Ayn Rand Quotes

Thus, the use of fiat money is more justifiable in financing a depression than in financing a war.

Printing money is merely taxation in another form. Rather than robbing citizens of their money, government robs their money of its purchasing power.

We have to remember there is not a big printing press in Washington that continually prints money over and over.

The United States has experienced high rates of inflation in the past and appears to be running the same type of fiscal policies that engendered hyperinflations in 20 countries over the past century.

Once the idea is accepted that money is something whose supply is determined simply by the printing press, it becomes impossible for the politicians in power to resist the constant demands for further inflation.

Only government can take perfectly good paper, cover it with perfectly good ink and make the combination worthless.

In a great financial emergency nearly every country has, at one time or another, been tempted to confuse the monetary with the fiscal functions of the Treasury. To borrow by the issue of money seems to have a seductive charm hard to resist.

Monetary policy and fiscal policy are inseparable.

A paper monetary standard means there are no restraints on the printing press or on federal deficits.

Every time the Fed implements 'quantitative easing,' a.k.a. printing more money, two things go up: taxes and inflation. When taxes and inflation go up, more jobs are lost.

When the government runs out of lenders, it can do something that households are forbidden to do: print money.

I know the Federal Reserve Bank can continue to print more and more money... but city and state governments cannot.

The only way government bureaucrats know of keeping prosperity going is to inflate some more - to increase the deficit or to pump more money into the system.

Printing money is merely taxation in another form.

If you increase the quantity of money, you bring about the lowering of the purchasing power of the monetary unit.

I think what the American people are going to see down the road is significant inflationary pressure as a result of all this government printed, you know, this new money that the government is putting in.

Increases in money supply are what constitute inflation, and a general rise in prices is the symptom.

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.

Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output.

I think democracies are prone to inflation because politicians will naturally spend [excessively] - they have the power to print money and will use money to get votes. If you look at inflation under the Roman Empire, with absolute rulers, they had much greater inflation, so we don't set the record. It happens over the long-term under any form of government.

We now know that inflation results from all that deficit spending.

Inflation is probably the most important single factor in that vicious circle wherein one kind of government action makes more and more government control necessary. For this reason all those who wish to stop the drift toward increasing government control should concentrate their effort on monetary policy.

Printing money creates inflation, which weakens an economy. Unfortunately, this kind of common-sense thinking never seems to penetrate academic circles.

Fiscal crises often turn into financial crises, dealing a blow to the real economy.