Only the State legally obtains its revenue by coercion.

It is no crime to be ignorant of economics, which is, after all, a specialized discipline and one that most people consider to be a ‘dismal science.’ But it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance.

States have always needed intellectuals to con the public into believing that its rule is wise, good, and inevitable

Only the State legally obtains its revenue by coercion.

Essentially, I mean the almost self-evident fact that individuals, ethnic groups, and races differ among themselves in intelligence and in many other traits, and that intelligence, as well as less controversial traits of temperament, are in large part hereditary.

I want to make it clear what I am not saying. I am not saying that fiat money, once established on the ruins of gold, cannot then continue indefinitely on its own.

Rule by the statist elite is not benign or simply a matter of who happens to be in office: it is rule by a growing army of leeches and parasites battening off the income and wealth of hard-working Americans, destroying their property, corrupting their customs and institutions, sneering at their religion.