Whether the universe is really a paying concern, or whether it is an inflated bubble that must burst sooner or later, this is another matter. If people were to demand cash payment in irrefragable certainty for everything that they have taken hitherto as paper money on the credit of the bank of public opinion, is there money enough behind it all to stand so great a drain even on so great a reserve?
Samuel(novelistButler
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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 Rothbard
Propositions prey upon and are grounded upon one another just like living forms. They support one another as plants and animals do; they are based ultimately on credit, or faith, rather than the cash of irrefragable conviction. The whole universe is carried on on the credit system, and if the mutual confidence on which it is based were to collapse, it must itself collapse immediately. Just or unjust, it lives by faith; it is based on vague and impalpable opinion that by some inscrutable process passes into will and action, and is made manifest in matter and in flesh; it is meteoric — suspended in mid-air; it is the baseless fabric of a vision to vast, so vivid, and so gorgeous that no base can seem more broad than such stupendous baselessness, and yet any man can bring it about his ears by being over-curious; when faith fails, a system based on faith fails also.
Samuel (novelist Butler
From the Great Depression, to the stagflation of the seventies, to the current economic crisis caused by the housing bubble, every economic downturn suffered by this country over the past century can be traced to Federal Reserve policy. The Fed has followed a consistent policy of flooding the economy with easy money, leading to a misallocation of resources and an artificial 'boom' followed by a recession or depression when the Fed-created bubble bursts.
Ron Paul
"It's like a supply and demand thing. It's like 'Well, this is what they want me to do, this is what they want to hear. So I'll do more of this, cuz this is great... and they love me.' Suddenly people start giving you money as well. So then you've got money and you get used to this lifestyle. And you don't wanna take any risks cuz they've got you by the balls, and you've got all these little things that you've bought, or you're attached to. And you start spending all this money... And that's how they get ya!" - source
Thom Yorke
To walk in money through the night crowd, protected by money, lulled by money, dulled by money, the crowd itself a money, the breath money, no least single object anywhere that is not money, money, money everywhere and still not enough, and then no money or a little money or less money or more money, but money, always money, and if you have money or you don't have money it is the money that counts and money makes money, but what makes money make money?
Henry Miller
Butler, Samuel (novelist, 1835-1902)
Butler, Samuel (poet
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