Saturday, December 1, 2012

Inflation

h/t: Jim Sinclair


"The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunists." -- Ernest Hemingway


"The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation." -- Vladimir Lenin


"In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value." -- Alan Greenspan


"Inflation is as violent as a mugger, as frightening as an armed robber and as deadly as a hit man." -- Ronald Reagan


"Inflation is taxation without legislation." -- Milton Friedman


"By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens." -- John Maynard Keynes


"When runaway inflation and bank failures struck in Germany in the 1920s, the middle class was destroyed, which led directly to the rise of the Nazis." -- Nick Clooney

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