Tuesday, January 27, 2009

Keynes knew what he was doing (at least here)

By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. 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 is able to diagnose.

-- John Maynard Keynes
(1883-1946) British economist
Source: "The Economic Consequences Of The Peace"

HT Liberty Quotes

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