Money out of nothing is money that is eventually worth nothing.

Above all, ascribe no decent motives to the federal government. Always and everywhere, it is the enemy of truth.

To concede that there are social problems that cannot be corrected without the state is to give up the entire argument over the future of liberty itself.

If credit expansion, protectionism, and government spending were a path to prosperity, mankind would have long ago created heaven on earth.

Repeal the entire Banking Act of 1933, and Austrian School economists will cheer, especially if the current system were replaced by a 100%-reserve competitive banking with no central bank. That banking reform would give us a sound money system, meaning no more business cycle, bailouts, or inflation.

It's not as if socialism is a new idea. It was tried in the 20th century. It produced economic stagnation and despair. In its purest form, it extinguished more than one hundred million people.

No state empowered to do what is supposedly necessary will restrain itself to those things. It will expand as much as public opinion will tolerate.