Banking is a branch of the information business.

It is a maxim of cryptology that what one man can devise, another can unravel. This principle keeps armies of tax lawyers and accountants employed, but adds nothing to our national productivity.

A country does not go bankrupt.

All the Congress, all the accountants and tax lawyers, all the judges, and a convention of wizards all cannot tell for sure what the income tax law says.

Capital goes to where it can escape taxation and be used to pay employees in sacks of rice.

The Doomsayers have always had their uses, since they trigger the coping mechanism that often prevents the events they forecast.

If we had a truth-in Government act comparable to the truth-in-advertising law, every note issued by the Treasury would be obliged to include a sentence stating: This note will be redeemed with the proceeds from an identical note which will be sold to the public when this one comes due.