Most politicians are ever eager to regulate industrial and commercial activity and strike at the economic elite with confiscatory taxation. Unfortunately, regulation and taxation tend to hamper economic activity, inhibit productivity, and depress levels of living.

When all the mysticism is stripped away, the people who comprise the government (the legislators, administrators, judges, and policemen), are guided by human interests, desires, beliefs, notions, and prejudices, just like other people. They have neither superhuman wisdom nor extraordinary virtue.

Instead of safeguarding truth and honesty, the state then tends to become a major source of insincerity and mendacity.

Every individual is a potential gold buyer, although he may not need the gold. It may be added to the store of personal wealth, and passed from generation to generation as an object of family wealth. There is no other economic good as marketable as gold.

The transfer society is forever testing the bounds of patience of taxpayers. Having reached the limit and still facing loud demands for more benefits, it resorts to deficit financing.

The international monetary order is more precarious by far today than it was in 1929. Then, gold was international money, incorruptible, unmanageable, and unchangeable. Today, the U.S. dollar serves as the international medium of exchange, managed by Washington politicians and Federal Reserve officials, manipulated from day to day, and serving political goals and ambitions. This difference alone sounds the alarm to all perceptive observers.

An ounce of gold is an ounce of gold, whether it consists of guineas, sovereigns or eagles.