There is no escape from the vast imbalances in international trade and finance. They will be corrected, sooner or later, by the inexorable principles that govern human action.

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.

The government transfers income and wealth according to the rules of politics, which make politicians the primary beneficiaries of the system, and the poor and needy the primary victims.

Modern government has become a universal transfer agency that utilizes the political process for distributing vast measures of income and wealth. It preys on millions of victims in order to allocate valuable goods and services to its beneficiaries.

Wherever politics intrudes upon economic life, political success is readily attained by saying what people like to hear rather than what is demonstrably true. Instead of safeguarding truth and honesty, the state then tends to become a major source of insi

Peace is the natural state of man, war the temporary repeal of reason and virtue.

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