““What was the Depression?”
“Bad economic times in their pure capitalist nation-state,” Aenea said. “Remember, the economy wasn’t really global then, and it depended upon private money institutions called banks, gold reserves, and the value of physical money—actual coins and pieces of paper that were supposed to be worth something. It was all a consensual hallucination, of course, and in the 1930s, the hallucination turned nightmare.””

— Dan Simmons , book The Rise of Endymion

Source: The Rise of Endymion (1997), Chapter 2 (p. 34)

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Dan Simmons 104

American novelist 1948

Walter Rodney book How Europe Underdeveloped Africa

Source: How Europe Underdeveloped Africa (1972), p. 119.

“When central banks print a lot of money to relieve a crisis, buy stocks, gold, and commodities because their value will rise and the value of paper money will fall.”

Ray Dalio (1949) American businessman

" Principles for Dealing with the Changing World Order by Ray Dalio https://www.youtube.com/watch?v=xguam0TKMw8" (at 6m43s), Principles by Ray Dalio, 2 March 2022.

““Did you experience hallucinations or illusions?”
“What’s the difference?”
“An illusion is a misreading of actual sensory data, while a hallucination is seeing something that isn’t there.””

Michael Swanwick book Stations of the Tide

Source: Stations of the Tide (1991), Chapter 7, “Who Is the Black Beast?” (p. 109)

“It is maintained by some that the bank is a means of executing the constitutional power “to coin money and regulate the value thereof.””

Andrew Jackson (1767–1845) American general and politician, 7th president of the United States

Congress have established a mint to coin money and passed laws to regulate the value thereof. The money so coined, with its value so regulated, and such foreign coins as Congress may adopt are the only currency known to the Constitution. But if they have other power to regulate the currency, it was conferred to be exercised by themselves, and not to be transferred to a corporation. If the bank be established for that purpose, with a charter unalterable without its consent, Congress have parted with their power for a term of years, during which the Constitution is a dead letter. It is neither necessary nor proper to transfer its legislative power to such a bank, and therefore unconstitutional.
Often paraphrased as: If Congress has the right under the constitution to issue paper money, it was given them to be used by themselves, not to be delegated to individuals or corporations.
1830s
Source: Veto Message Regarding the Bank of the United States http://avalon.law.yale.edu/19th_century/ajveto01.asp (10 July 1832)

“Each piece of money is a mere coin, or means of circulation, only so long as it actually circulates.”

Karl Marx (1818–1883) German philosopher, economist, sociologist, journalist and revolutionary socialist

Vol. I, Ch. 3, Section 2(c), pg. 145.
(Buch I) (1867)

“Cyberspace. A consensual hallucination experienced daily by billions of legitimate operators, in every nation, by children being taught mathematical concepts…”

William Gibson book Neuromancer

Source: Neuromancer (1984)
Context: Cyberspace. A consensual hallucination experienced daily by billions of legitimate operators, in every nation, by children being taught mathematical concepts… A graphic representation of data abstracted from banks of every computer in the human system. Unthinkable complexity. Lines of light ranged in the nonspace of the mind, clusters and constellations of data. Like city lights, receding...

“So: if the chronic inflation undergone by Americans, and in almost every other country, is caused by the continuing creation of new money, and if in each country its governmental "Central Bank" (in the United States, the Federal Reserve) is the sole monopoly source and creator of all money, who then is responsible for the blight of inflation? Who except the very institution that is solely empowered to create money, that is, the Fed (and the Bank of England, and the Bank of Italy, and other central banks) itself?”

Murray N. Rothbard (1926–1995) American economist of the Austrian School, libertarian political theorist, and historian

The Case against the Fed.

“We are caged by our cultural programming. Culture is a mass hallucination, and when you step outside the mass hallucination you see it for what it's worth.”

Terence McKenna (1946–2000) American ethnobotanist

Eros and the Eschaton http://www.youtube.com/watch?v=M_WW9z0_Eu0& lecture (1994)

“Money is different from all other commodities: other things being equal, more shoes, or more discoveries of oil or copper benefit society, since they help alleviate natural scarcity. But once a commodity is established as a money on the market, no more money at all is needed. Since the only use of money is for exchange and reckoning, more dollars or pounds or marks in circulation cannot confer a social benefit: they will simply dilute the exchange value of every existing dollar or pound or mark. So it is a great boon that gold or silver are scarce and are costly to increase in supply.
But if government manages to establish paper tickets or bank credit as money, as equivalent to gold grams or ounces, then the government, as dominant money-supplier, becomes free to create money costlessly and at will. As a result, this 'inflation' of the money supply destroys the value of the dollar or pound, drives up prices, cripples economic calculation, and hobbles and seriously damages the workings of the market economy.”

Murray N. Rothbard (1926–1995) American economist of the Austrian School, libertarian political theorist, and historian

"Taking Money Back" http://mises.org/story/2882, in The Freeman (September - October 1995) http://www.fee.org/publications/the-freeman/.

“I have endeavoured to show that the ability to pay taxes depends, not on the gross money value of the mass of commodities, nor on the net money value of the revenue of capitalists and landlords, but on the money value of each man's revenue compared to the money value of the commodities which he usually consumes.”

David Ricardo (1772–1823) British political economist, broker and politician

Advertisement To The Third Edition, p. 3
The Principles of Political Economy and Taxation (1821) (Third Edition)

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