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The gold standard did not collapse. Governments abolished it in order to pave the way for inflation.

Ludwig von Mises

Related Topics

Abolish Collapse Country Gold Government Inflation Order Pave Wave

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Government is in the last resort the employment of armed men, of policemen, gendarmes, soldiers, prison guards, and hangmen.
LUDWIG VON MISES

Arm Employment Gendarme Government Hangmen Last Prison Resort Soldier
The essential feature of government is the enforcement of its decrees by beating, killing, and imprisoning.
LUDWIG VON MISES

Beat Enforcement Essential Government Kill
Depression is the aftermath of credit expansion.
LUDWIG VON MISES

Aftermath Credit Depression Expansion
The flowering of human society depends on two factors: the intellectual power of outstanding men to conceive sound social and economic theories, and the ability of these or other men to make these ideologies palatable to the majority.
LUDWIG VON MISES

Conceive Economic Factor Flowrm Human Ideas Intellectual Men Outstanding Social Society Sound Two
The criterion of truth is that it works even if nobody is prepared to acknowledge it.
LUDWIG VON MISES

Acknowledge Criteria Criterion Prepare Truth
All they did was to call their adversaries names and cast suspicion upon their motives. And, unfortunately, the average citizen cannot see through these stratagems.
LUDWIG VON MISES

Adversaries Average Call Name Stratagem Suspicion Unfortunately
If you increase the quantity of money, you bring about the lowering of the purchasing power of the monetary unit.
LUDWIG VON MISES

Increase Lowering Monetary Power Purchasing World
They promise the blessings of the Garden of Eden, but they plan to transform the world into a gigantic post office. Every man but one a subordinate clerk in a bureau.
LUDWIG VON MISES

Bless Bureau Clerk Garden Man Promise Subordinate Transform
He who is unfit to serve his fellow citizens wants to rule them.
LUDWIG VON MISES

Citizen Fellow Rule Them Until Want
The truth is that most people lack the intellectual ability and courage to resist a popular movement, however pernicious and ill-considered.
LUDWIG VON MISES

Consider Courage Intelectual Most Movement People Popular Truth
The entrepreneur profits to the extent he has succeeded in serving the consumers better than other people have done.
LUDWIG VON MISES

Consumer Done Entrepreneur People Profit Successful
A society that chooses between capitalism and socialism does not choose between two social systems; it chooses between social cooperation and the disintegration of society. Socialism is not an alternative to capitalism; it is an alternative to any system under which men can live as human beings.
LUDWIG VON MISES

Between Capitalism Choose Socialism Society System
The final outcome of the credit expansion is general impoverishment.
LUDWIG VON MISES

Credit Expansion Final General Impoverishment Outcome
The champions of socialism call themselves progressives, but they recommend a system which is characterized by rigid observance of routine and by a resistance to every kind of improvement.
LUDWIG VON MISES

Bless Championship Characteristics Garden Men Observation Progressive Recommend Routine Socialism System
They call themselves liberals, but they are intent upon abolishing liberty. They call themselves democrats, but they yearn for dictatorship. They call themselves revolutionaries, but they want to make the government omnipotent.
LUDWIG VON MISES

Aboish Democrat Dictatorship Government Liberal Revolution Themselves Upon
Liberty is always freedom from the government.
LUDWIG VON MISES

Always Government Liberty

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