“Deficit spending is simply a scheme for the ‘hidden’ confiscation of wealth.”

No matter how skillful the trading scheme, over the long haul, abnormal returns are sustained only through abnormal exposure to risk.

Need to consider not only the most likely future path for the economy but also the distribution of possible outcomes about that path.

If prices go down, we will have problems – problems in the sense of spillover to other areas.

I was raising the question on the side with Governor Mullins of what would happen if the Treasury sold a little gold in this market.

The only effective regulation lies in the propensity of customers to choose alternatives, of investors to move their funds elsewhere and of labour to acquire technical skills’.

Before I met Ayn Rand, I was a logical positivist, and accordingly,

Was sort of intellectually shocked. Contagion is the critical phenomenon which causes the thing to fall apart.

And whatever their publicized angst over Saddam Hussein’s ‘weapons of mass destruction.

Senator, we are groping for understanding, the knowledge you assume I possess doesn’t exist’.

Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.

I guess I should warn you, if I turn out to be particularly clear, you’ve probably misunderstood what I’ve said.

Skilled shortages in America exist because we are shielding our skilled labor force from world competition. [Visa quotas] have been substituted for the wage pricing mechanism.

Fear and euphoria are dominant forces, and fear is many multiples the size of euphoria. Bubbles go up very slowly as euphoria builds.

The recent period has been marked by a transformation to an economy that is more productive as competitive forces become increasingly intense and new technologies raise the efficiency of our businesses…

Corruption, embezzlement, fraud, these are all characteristics which exist everywhere.

Deficit spending is simply a scheme for the confiscation of wealth.If I seem unduly clear to you, you must have misunderstood what I said.

On the morrow of each conflict I gave the categorical order to confiscate the largest possible number of weapons of every sort and kind. This confiscation, which continues with the utmost energy, has given satisfactory results.

Deficit spending is simply a scheme for the confiscation of wealth.If I seem unduly clear to you, you must have misunderstood what I said.

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.

There is no safe store of value. Deficit spending is simply a scheme for the hidden confiscation of wealth.

In the absence of the gold standard, there is no way to protect savings from confiscation through inflation.