At the base of the Fed pyramid, and therefore of the bank system's creation of "money" in the sense of deposits, is the Fed's power to print legal tender money. But the Fed tries its best not to print cash but rather to "print" or create demand deposits, checking deposits, out of thin air, since its demand deposits constitute the reserves on top of which the commercial banks can pyramid a multiple creation of bank deposits, or "checkbook money."

All government operation is wasteful, inefficient, and serves the bureaucrat rather than the consumer.

Never have the world's moneys been so long cut off from their metallic roots.

Soaking the rich would not only be profoundly immoral, it would drastically penalize the very virtues: thrift, business foresight, and investment, that have brought about our remarkable standard of living. It would truly be killing the goose that lays the golden eggs.

This, by the way, is the welfare state in action: Its a whole bunch of special interest groups screwing consumers and taxpayers, and making them think they're really benefiting.

The libertarian creed...offers the fulfillment of the best of the American past along with the promise of a far better future. Libertarians are squarely in the great classical liberal tradition that built the United States and bestowed on us the American heritage of individual liberty, a peaceful foreign policy, minimal government, and a free-market economy.

I see a great future for gold and silver coins as the currency people may increasingly turn to when paper currencies begin to disintegrate.