reidwalley on Nostr: "[Governments believe that ... when there is a choice between an unpopular tax and a ...
"[Governments believe that ... when there is a choice between an unpopular tax and a very popular expenditure, there is a way out for them - the way toward inflation. This illustrates the problem of going away from the gold standard [which has no inflation]."
—Ludwig von Mises
“Under a sound monetary system, government had to function in a way that is unimaginable to generations reared on the twentieth-century news cycle: they had to be fiscally responsible.
“Without a central bank [The Federal Reserve] capable of increasing the money supply to pay off the government debt, government budgets had to obey the regular rules of financial responsibility which apply to every healthy normal entity, and which monetary nationalism has attempted to repeal and state education attempted to obfuscate.
“For those of us alive today, raised on the propaganda of the omnipotent governments of the twentieth century, it is often hard to imagine a world in which individual freedom and responsibility supersede government authority.”
- Excerpt from saifedean (npub1gdu…6nak) Ammous’s The Bitcoin Standard, Ch 7, Sound Money and Individual Freedom
—Ludwig von Mises
“Under a sound monetary system, government had to function in a way that is unimaginable to generations reared on the twentieth-century news cycle: they had to be fiscally responsible.
“Without a central bank [The Federal Reserve] capable of increasing the money supply to pay off the government debt, government budgets had to obey the regular rules of financial responsibility which apply to every healthy normal entity, and which monetary nationalism has attempted to repeal and state education attempted to obfuscate.
“For those of us alive today, raised on the propaganda of the omnipotent governments of the twentieth century, it is often hard to imagine a world in which individual freedom and responsibility supersede government authority.”
- Excerpt from saifedean (npub1gdu…6nak) Ammous’s The Bitcoin Standard, Ch 7, Sound Money and Individual Freedom