If government manages to establish paper tickets or bank credit as money, as equivalent to gold grams or ounces, then the government, as dominant money-supplier, becomes free to create money costlessly and at will. As a result, this 'inflation' of the money supply destroys the value of the dollar or pound, drives up prices, cripples economic calculation, and hobbles and seriously damages the workings of the market economy.
Murray RothbardSubjectivism is not an absolute principle; it is a necessary but not sufficient condition for sound methodology.
Murray RothbardGorbachev's stance contrasts admirably with the policy of the sainted Abraham Lincoln, who used massive force and mass murder to force the seceding Southern states to remain in the Union.
Murray RothbardGold was not selected arbitrarily by governments to be the monetary standard. Gold had developed for many centuries on the free market as the best money; as the commodity providing the most stable and desirable monetary medium.
Murray Rothbard