Money and BanksMoney and Banking
The fact that politicians, central bankers, and “too big to fail” bankers all oppose a gold standard is a tacit admission that hard money would serve as an effective constraint on their activities.
“A billion here, a billion there, pretty soon you’re talking about real money.”
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BiographiesHistory of the Austrian School of EconomicsPraxeology
After quoting H.L. Mencken’s famous quip, “Nobody ever went broke underestimating the intelligence of the American people,” Andrews wonders, “I don’t know if old H.L. was a bookmaker, but he would have been a great one if he had been.”
Philosophy and Methodology