“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.”

The Case against the Fed.

Speech to Conservative Trade Unionists (Annual Conference) (1 November 1980) http://www.margaretthatcher.org/document/104439
First term as Prime Minister
Context: If simply printing and spending more money would cure our problems we should by now be one of the wealthiest nations in the Western world.—In the lifetime of the last Labour Government the amount of money in the economy went up by £20 thousand million but the number of jobs did not increase. Indeed, unemployment doubled and prices more than doubled too.—In the last three years (1976–79) the amount of money in the economy went up by 50%; but yet only 4%; went into output, the rest into higher prices and imports. The record is clear, printing money doesn't create jobs, it only creates more inflation. But there is another word for printing money—they call it “reflection”. It is a cosy word but a fraudulent device. It cuts the value of every pound in circulation, of every pound the thrifty have saved. It means spending money you can't afford, haven't earned and haven't got. You would accept that it is neither moral nor responsible for a family to live beyond its means. Equally it is neither moral nor responsible for a Government to spend beyond the nation's means, even for services which may be desirable. So we must curb public spending to amounts that can be financed by taxation at tolerable levels and borrowing at reasonable rates of interest.

Socialism (1922), Epilogue (1947)

1980s and later, Interview in Silver & Gold Report (1980)

This Week with George Stephanopoulos, March 29, 2009 http://abcnews.go.com/ThisWeek/Story?id=7200273&page=4

"Some New Tactical Reflections".

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

Source: The Fruitful Darkness: A Journey Through Buddhist Practice and Tribal Wisdom

Source: 1960s, The Gutenberg Galaxy (1962), p. 267