“And the reason the federal government wasn’t given that power [to create paper money or issue bills of credit] was because the framers didn’t want it to have the power to create inflation. They had just experienced it firsthand with the Continental dollar, which ended up being worth around 10 cents and gave rise to the expression “not worth a Continental.””

Quotes from Crash Proof (2006)

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Peter D. Schiff40

American entrepreneur, economist and author 1963

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“The sentence, 'stopping the printing presses,' is a figurative expression, because it is being done now by creating credit by the Federal Reserve System. But this is government action — all inflation is ultimately the result of activities which government determines and can control. And all inflations have been stopped in the past by the government stopping creating money, or preventing the central bank from creating more money. May I add just one thing? See, all inflations have been stopped by people who created or believed in a very naive form of the Quantity Theory, and acted on that. It may be wrong, but it is the only adequate theory effective to stop an inflation.”

Friedrich Hayek (1899–1992) Austrian and British economist and Nobel Prize for Economics laureate

1975 interview https://mises.org/library/hayek-meets-press-1975 on "Meet the Press." <br class="br">1960s–1970s

“The transportation bill had over $5 billion worth of special local projects and favors attached to it, lamprey-like, by various congresspersons. But this is good, because these projects will CREATE JOBS. See, when the GOVERNMENT spends money, it creates jobs; whereas when the money is left in the hands of TAXPAYERS, God only knows what they do with it. Bake it into pies, probably. Anything to avoid creating jobs.”

Dave Barry (1947) American writer

Column for week of February 29, 1992 http://news.google.com/newspapers?id=HgBOAAAAIBAJ&sjid=5osDAAAAIBAJ&pg=5149,5086013&dq=dave-barry+pie+bake&hl=en <br class="br">Columns and articles

“At the end of every television broadcast, the names of the people who worked on it are listed. Why, you may ask yourself sometimes, would so many people want to take credit for such a bad show? Well, its just like what's happened to the dollar. Credits in television suffer from inflation. There are more of them and they arent worth what they used to be, even on a good show.”

Andy Rooney (1919–2011) writer, humorist, television personality

[Andy Rooney, w:Andy Rooney, 6, Credits, Years of Minutes, 2003, PublicAffairs, 978-1586482114]

“You can't be pretentious about what we do, because at the end of the day, movies are about entertainment, and if people get 10 dollars' worth, then that's okay.”

Jason Statham (1967) English actor, film producer, martial artist and former diver

“Who can measure the worth of a Shakespeare, a Michelangelo or Beethoven in dollars and cents?”

Lucy Parsons (1853–1942) American communist anarchist labor organizer

The Principles of Anarchism

“The most dangerous states in the international system are continental powers with large armies.”

John Mearsheimer book The Tragedy of Great Power Politics

Source: The Tragedy of Great Power Politics (2001), Chapter 4, The Primacy of Land Power, p. 135

“Rising unemployment and the recession have been the price that we have had to pay to get inflation down. That price is well worth paying.”

Norman Lamont (1942) British politician

Hansard, HC 6Ser vol 191 col 413 (16 May 1991) http://www.publications.parliament.uk/pa/cm199091/cmhansrd/1991-05-16/Orals-1.html.

“Money is the creature of law and creation of the original issue of money should be maintained as an exclusive monopoly of national government.… Democracy will rise superior to Money Power.”

Abraham Lincoln (1809–1865) 16th President of the United States

These remarks in support of a government-regulated money supply were written by Gerry McGeer, who presented them as his interpretation of what Lincoln believed. [McGeer, Gerald Grattan, w:Gerald Grattan McGeer, The Conquest of Poverty, 5 - Lincoln, Practical Economist, http://heritech.com/pridger/lincoln/mcgeer/mcgeerv.htm, 2009-07-29, 1935, Garden City Press, Gardenvale, Quebec, 186ff]
Misattributed

“The federal government did not create the states; the states created the federal government.”

Ronald Reagan (1911–2004) American politician, 40th president of the United States (in office from 1981 to 1989)

“Government spending cannot create additional jobs. If the government provides the funds required by taxing the citizens or by borrowing from the public, it abolishes on the one hand as many jobs as it creates on the other. If government spending is financed by borrowing from the commercial banks, it means credit expansion and inflation. If in the course of such an inflation the rise in commodity prices exceeds the rise in nominal wage rates, unemployment will drop. But what makes unemployment shrink is precisely the fact that real wage rates are falling.”

Ludwig von Mises book Socialism

Socialism (1922), Epilogue (1947)

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Peter D. Schiff40

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