Quotes on Inflation

If a government resorts to inflation, that is, creates money in order to cover its budget deficits or expands credit in order to stimulate business, then no power on earth, no gimmick, device, trick or even indexation can prevent its economic consequences.

The gold standard did not collapse. Governments abolished it in order to pave the way for inflation. The whole grim apparatus of oppression and coercion, policemen, customs guards, penal courts, prisons, in some countries even executioners, had to be put into action in order to destroy the gold standard.

Inflation is not caused by the actions of private citizens, but by the government: by an artificial expansion of the money supply required to support deficit spending. No private embezzlers or bank robbers in history have ever plundered people's savings on a scale comparable to the plunder perpetrated by the fiscal policies of statist governments.

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

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.

The Planck satellite may detect the imprint of the gravitational waves predicted by inflation. This would be quantum gravity written across the sky.

Thirty years ago, many economists argued that inflation was a kind of minor inconvenience and that the cost of reducing inflation was too high a price to pay. No one would make those arguments today.

When people begin anticipating inflation, it doesn't do you any good anymore, because any benefit of inflation comes from the fact that you do better than you thought you were going to do.

All kinds of excuses have been given by governments for not implementing this recommendation like food price inflation. But the question is, do the farmers of this country, who constitute nearly half of the working population, also not need to eat?

In reality there is no such thing as an inflation of prices, relatively to gold. There is such a thing as a depreciated paper currency.

It is a way to take people's wealth from them without having to openly raise taxes. Inflation is the most universal tax of all.

Inflation is the fiscal complement of statism and arbitrary government. It is a cog in the complex of policies and institutions which gradually lead toward totalitarianism .

Continued inflation inevitably leads to catastrophe.

The President's policy proposal, known as 'chained CPI,' would re-calculate the cost of living for Social Security beneficiaries. That new number won't keep up with inflation on things like food and health care -- the basics that we need to live. In short, 'chained CPI' is just a fancy way to say 'cut benefits for seniors, the permanently disabled, and orphans.'

People who think a tax boost will cure inflation are the same ones who believe another drink will cure a hangover.

Most Americans are on a downward escalator. Median wage in the United States, adjusted for inflation, keeps on dropping.

If inflation-adjusted interest rates decline in a given country, its currency is likely to decline.

There is an island fantasy A "Someday I'll," we'll never see When recession stops, inflation ceases Our mortgage is paid, our pay increases That Someday I'll where problems end Where every piece of mail is from a friend Where the children are sweet and already grown . . . . Most unhappy people . . . put happiness on "law away" And struggle through a blue today . . . . Life's most important revelation Is that the journey means more than the destination . . .

Government has no wealth, and when a politician promises to give you something for nothing, he must first confiscate that wealth from you -- either by direct taxes, or by the cruelly indirect tax of inflation.

Lenin is said to have declared that the best way to destroy the Capitalistic System was to debauch the currency. . . Lenin was certainly right. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million can diagnose.