Archive for the ‘Economics’ Category

Quotes

October 20, 2008
As the governments of the world fall over themselves to save the failing economy by printing money, here are just a few quotes to ponder:   

“Paper money has had the effect in your state that it will ever have, to ruin commerce, oppress the honest, and open the door to every species of fraud and injustice.” – George Washington in 1787 to a Rhode Island legislator. 

“I sincerely believe … that the banking establishments are more dangerous than standing armies, and that the principle of spending money to be paid by posterity under the name of funding is but swindling futurity on a large scale.” – Thomas Jefferson, 1816 
  

“Whoever controls the volume of money in any country is absolute master of all industry and commerce.” – James Garfield 

“With the exception only of the period of the gold standard, practically all governments of history have used their exclusive power to issue money to defraud and plunder the people.” – Friedrich A. Hayek, Austrian economist, author and 1974 Nobel Prize-winner for economics.

And then some words from the man on whose principles our current economic system is unfortunately based.  

“Lenin is said to have declared that the best way to destroy the capitalistic system was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. …  Lenin was certainly right. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million can diagnose.” – John Maynard Keynes 

“The long run is a misleading guide to current affairs. In the long run we are all dead.” – John Maynard Keynes

Comfort to us all I am sure???

Well, for myself I am glad that the world is in the hands of the one who looks down from heaven and laughs at the vain plots of men. (Psalm 2)