The popular notion that an increase in the stock of money is socially and economically beneficial and desirable is one of the great fallacies of our time.

Sound money and free banking are not impossible; they are merely illegal.

Government is rather ill-suited and poorly equipped to alleviate the plight of the poor. It lacks moral rules or standards, and is devoid of basic principles in economic and social matters.

The social and racial conflict, which springs from the redistribution ideology, may deepen as economic output is shrinking and transfer 'entitlements cause budget deficits to soar. The U.S. dollar, which has become a mere corollary of government finance, is likely to survive the soaring deficits.

War cannot be driven out by war, for the use of evil breeds more evil, hostility more hostility, and the use of force more force.

A government debt is a government claim against personal income and private property - an unpaid tax bill.

Since there is no orderly way to liquidate the federal debt, we must brace for a payment crisis.