Ludwig von Mises: 'The issue is always the same: the government or the market. There is no third solution.” From Planned Chaos p. 28 Capitalism vs. Socialism
Ludwig von Mises: “Capitalism and socialism are two distinct patterns of social organization. Private control of the means of production and public control are contradictory notions and not merely contrary notions. There is no such thing as a mixed economy, a system that would stand midway between capitalism and socialism.” From The Anti-Capitalistic Mentality pp. 64-65 Capitalism vs. Socialism
John Adams: "Banks have done more injury to the religion, morality, tranquility, prosperity, and even wealth of the nation than they can have done or ever will do good."
Boston Federal Reserve Bank: "When you or I write a check there must be sufficient funds in our account to cover that check, but when the Federal Reserve writes a check, it is creating money."
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ReplyDeleteWhen the Federal Reserve writes a check, it is creating money. Yes indeed it is, but it creates it OUR OF THIN AIR. THAT IS WHY IT IS CALLED FIAT MONEY. IT'S BACKING IS WORSE THAN FRACTIONAL IT IS BACKED UP ONLY BY DEBT.
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