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The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit.

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Abandonment Banking Credit Gold Made Possible Standard Statics System Use Welfare

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Marilyn Monroe Paulo Coelho Abraham Lincoln C. S. Lewis Khalil Gibran Charlie Chaplin Gautama Buddha Isaac Newton

It signals problems with respect to currency markets. Central banks should pay attention to it.
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Attention Bank Central Currency Market Problem Respect Signal
We can see that in the inverse relationship exhibited by price/earnings ratios and the rate of inflation in the past.
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Earning Exhibited Inflation Inverse Past Price Ratio Relationship See
It is regrettably the way human nature functions, whether we like it or not. What successful economies do is keep it to a minimum.
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Function Human Keep Minimum Nature Regrettably Successful
I don’t think it’s possible for the Fed to end its easy-money policies in a trouble-free manner.
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End Free Manner Money Policy Possible Think
Gold stands in the way of this insidious process. It stands as a protector of property rights.
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Gold Insidious Process Property Protector Right Stand Way
The arts develop skills and habits of mind that are important for workers in the new economy of ideas.
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Art Development Economy Habit Idea Importance Mind Skill Worker
There is nothing to guarantee the superior judgment, knowledge, and integrity of an inspector or a bureaucrat-and the deadly consequences of entrusting him with arbitrary power are obvious.
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Arbitrary Death Guarantee Inspector Integrity Judgement Knowledge Nothing Superior
What we have found over the years in the marketplace is that derivatives have been an extraordinarily useful vehicle to transfer risk from those who shouldn’t be taking it to those who are willing to and are capable of doing so.
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Derivative Extraordinary Marketplace Over Useful Year
The very nature of finance is that it cannot be profitable unless it is significantly leveraged… and as long as there is debt, there can be failure and contagion.
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Failure Finance Leverage Nature Significantly Unless Very
The economy is turning, and credit comes in with a lag, .. To the extent that a number of small firms are finding it difficult to get the credit they need at a price they can afford, that’s likely to change for the better.
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Better Change Come Credit Difficult Economy Extend Find Firm Lag Need Number Small Turn
If I seem unduly clear to you, you must have misunderstood what I said.
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Clear Misunderstood Must Said Seen Unduly
I cannot conceive of a politically feasible solution to this problem which will overdo cutting the deficit, where overdoing means harming the economy. It might be technically possible, but it is not realistic.
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Cannot Conceive Cut Deficit Economy Harm Overdo Overdue Political Realistic Solution
I love facts and figures. It’s like following a detective story, piecing together what’s going on in the economy.
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Detective Economy Fact Follow Love Piece Story Together
The Iraq War is largely about oil.
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Country Largely Oil War
Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.
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Creative Destructive Enormous Stage List Yet
In the absence of the gold standard, there is no way to protect savings from confiscation through inflation.
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Absence Confiscation Good Inflation Protect Saving Standard

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