Freedom Is A Rare And Delicate Plant.

There's Only One Thing That All Of The Central Banks Control And That Is The Base, Their Own Liability, And They Can Control That In Various Ways. They Can Control It Directly By Open Market Operations, Buying And Selling Government Securities Or Other Assets, For Example, Buying And Selling Gold, Or They Can Control It Indirectly By Altering The Rate At Which Banks Lend To One Another.

Since The 1930s The Technique Of Buying Votes With The Voters' Own Money Has Been Expanded To An Extent Undreamed Of By Earlier Politicians.

Inflation Is Taxation Without Legislation.

The Preservation Of Liberty, Not The Promotion Of Efficiency, Is The Primary Justification For Private Property. Efficiency Is A Happy, Though Not Accidental, By-product - And A Most Important By-product Because Liberty Could Not Have Survived If It Had Not Also Produced Affluence.

One Man's Opportunism Is Another Man's Statesmanship.