Money and Banking

The expansion of the welfare state is used to legitimize the expansion of the corporatist-warfare state. We march towards slavery, accompanied by songs of fairness and change.

The task of the theory of money consists merely in dealing with that component in the valuation of money which is conditioned by its function as a

"As well as repudiating the Mississippi Union Bank bonds in 1840, the state effectively repudiated the debts owed to the state banks."

"The gold-exchange standard establishes a system, in the name of gold, which in reality manages to install coordinated, international, inflationary, paper money."

Securitization is a financial technique that permits the exchange of relatively nonmarketable credit claims for liquidities.

Eventually, every aspect of productive life will be so controlled that capitalist drive and ingenuity will become relics of the past.

Most people would admit to hoarding money only with a tinge of guilt, because to be a hoarder carries with it the suggestion of being a miser—a Scrooge. And yet, every participant in an economy based on indirect exchange holds some amount of money and can be said to be hoarding it; that is, declining to spend it. Hoarding is a strategy for achieving personal goals or for dealing with economic uncertainty.

It makes no sense to say that the major dislocations of the world's economies in the 1930s could have been solved simply by printing up pieces of paper.

"A fall in normal credit (i.e., credit that has an original lender) doesn't alter the money supply and hence has nothing to do with deflation."

India's ancient and deep religious traditions, combined with a plethora of historical, cultural, and practical reasons, have fostered an unflinching desire to acquire gold as a means of protecting one's wealth.