“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 is able to diagnose.”

Source: The Economic Consequences of the Peace (1919), Chapter VI, pp. 235-236
Context: Lenin is said to have declared that the best way to destroy the capitalist 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. By this method they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some. The sight of this arbitrary rearrangement of riches strikes not only at security, but at confidence in the equity of the existing distribution of wealth. Those to whom the system brings windfalls, beyond their deserts and even beyond their expectations or desires, become 'profiteers,' who are the object of the hatred of the bourgeoisie, whom the inflationism has impoverished, not less than of the proletariat. As the inflation proceeds and the real value of the currency fluctuates wildly from month to month, all permanent relations between debtors and creditors, which form the ultimate foundation of capitalism, become so utterly disordered as to be almost meaningless; and the process of wealth-getting degenerates into a gamble and a lottery.
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 is able to diagnose.

Adopted from Wikiquote. Last update June 3, 2021. History

Help us to complete the source, original and additional information

Do you have more details about the quote "There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The proc…" by John Maynard Keynes?
John Maynard Keynes photo
John Maynard Keynes 122
British economist 1883–1946

Related quotes

Pierre Louis Maupertuis photo

“A true philosopher does not engage in vain disputes about the nature of motion; rather, he wishes to know the laws by which it is distributed, conserved or destroyed, knowing that such laws is the basis for all natural philosophy.”

Pierre Louis Maupertuis (1698–1759) French mathematician, philosopher and man of letters

Les Loix du Mouvement et du Repos, déduites d'un Principe Métaphysique (1746)

Gustavo Gutiérrez photo
Sarvepalli Radhakrishnan photo
Wilhelm Reich photo

“Revolutionary practice in any field of human existence develops by itself if one comprehends the contradictions in every new process; it consists in siding with those forces which act in the direction of progressive development.”

Source: The Mass Psychology of Fascism (1933), Ch. 1 : Ideology As Material Power, Section 1 : The Divergence Of Ideology And Economic Situation
Context: Revolutionary practice in any field of human existence develops by itself if one comprehends the contradictions in every new process; it consists in siding with those forces which act in the direction of progressive development. To be radical, according to Marx, means "going to the root of things." If one goes to the root of things, if one understands their contradictory character, the means of mastering the reaction become plain.

Sayyid Qutb photo
Herbert Marcuse photo
George Orwell photo

“A tragic situation exists precisely when virtue does not triumph but when it is still felt that man is nobler than the forces which destroy him.”

George Orwell (1903–1950) English author and journalist

"Lear, Tolstoy and the Fool," Polemic (March 1947) - Full text online http://orwell.ru/library/essays/lear/english/e_ltf]

Fernando Pessoa photo

“The only hidden meaning of things
Is that they have no hidden meaning.
It's the strangest thing of all,
Stranger than all poets' dreams
And all philosophers' thoughts,
That things are really what they seem to be
And there's nothing to understand.
Yes, this is what my senses learned on their own:
Things have no meaning: they have existence.
Things are the only hidden meaning of things.”

Fernando Pessoa (1888–1935) Portuguese poet, writer, literary critic, translator, publisher and philosopher

O único sentido oculto das coisas
É elas não terem sentido oculto nenhum,
É mais estranho do que todas as estranhezas
E do que os sonhos de todos os poetas
E os pensamentos de todos os filósofos,
Que as coisas sejam realmente o que parecem ser
E não haja nada que compreender.
Sim, eis o que os meus sentidos aprenderam sozinhos:—
As coisas não têm significação: têm existência.
As coisas são o único sentido oculto das coisas.
Alberto Caeiro (heteronym), O Guardador de Rebanhos ("The Keeper of Sheep"), XXXIX, trans. Richard Zenith.

Herbert Marcuse photo
Vladimir Lenin photo

“The economic basis for a true Socialist Republic does not yet exist… Communism is failing. Russian expectations are not towards communism, but towards capitalism…. The capitalist classes are advancing in serried ranks towards the promised land, destined to become in a few decades one of the greatest productive forces in the world.”

Vladimir Lenin (1870–1924) Russian politician, led the October Revolution

As quoted in The Life of Benito Mussolini, Margherita Sarfatti, London: UK. Thornton Butterworth, Ltd., 1926, p. 261, remarks made at the end of 1920. https://archive.org/stream/in.ernet.dli.2015.173841/2015.173841.The-Life-Of-Benito-Mussolini_djvu.txt
1920s

Related topics