Share on Facebook Share on Twitter Comment on this quoteShare via Email Print this Page Daily Quotes Archives2012-08-19 Aug 17, 2012Little else is requisite to carry a state to the highest degree of opulence from the lowest barbarism, but peace, easy taxes, and a tolerable administration of justice: all the rest being brought about by the natural course of things.~ Adam SmithI wasn't worth a cent two years ago, and now I owe two million dollars.~ Mark TwainFelix qui nihil debet. (Happy is he who owes nothing.)~ Roman Proverb Aug 16, 2012The cardinal maxim is, that any aid to a present bad Bank is the surest mode of preventing the establishment of a future good Bank.~ Walter BagehotAn almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions. They seem to sense -- perhaps more clearly and subtly than many consistent defenders of laissez-faire -- that gold and economic freedom are inseparable, that the gold standard is an instrument of laissez-faire and that each implies and requires the other.~ Alan GreenspanI can't remember the exact quote but when I used to trade and Mr. Volcker was Fed chairman, he said something like 'gold is my enemy, I'm always watching what gold is doing', we need to think why he made a statement like that. If you're a central banker or one of the congressmen or senators, watch what gold is doing because this is a no-confidence vote in fiscal and dollar policy.~ Rick Santelli Aug 15, 2012In theory, there is no difference between theory and practice, but in practice, there is.~ Jan L.A. van de SnepscheutThe Fed was largely responsible for converting what might have been a garden-variety recession, although perhaps a fairly severe one, into a major catastrophe. Instead of using its powers to offset the depression, it presided over a decline in the quantity of money by one-third from 1929 to 1933 ... Far from the depression being a failure of the free-enterprise system, it was a tragic failure of government.~ Milton FriedmanBankruptcies of governments have, on the whole, done less harm to mankind than their ability to raise loans.~ R. H. Tawney Aug 14, 2012Some people regard private enterprise as a predatory tiger to be shot. Others look on it as a cow they can milk. Not enough people see it as a healthy horse, pulling a sturdy wagon.~ Sir Winston ChurchillThe uniform, constant, and uninterrupted effort of every man to better his condition . . . is frequently powerful enough to maintain the natural progress of things toward improvement, in spite of the extravagance of government, and of the greatest errors of administration.~ Adam SmithCapital will always go where it’s welcome and stay where it’s well treated. Capital is not just money. It’s also talent and ideas. They, too, will go where they’re welcome and stay where they are well treated.~ Walter Wriston Aug 13, 2012Political ideas that have dominated the public mind for decades cannot be refuted through rational arguments. They must run their course in life and cannot collapse otherwise than in great catastrophe...~ Ludwig von MisesThe man of system…is apt to be very wise in his own conceit; and is often so enamoured with the supposed beauty of his own ideal plan of government, that he cannot suffer the smallest deviation from any part of it… He seems to imagine that he can arrange the different members of a great society with as much ease as the hand arranges the different pieces upon a chess-board. He does not consider that in the great chess-board of human society, every single piece has a principle of motion of its own, altogether different from that which the legislature might choose to impress upon it.~ Adam SmithMen, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one.~ Charles Mackay Previous week's quotes Next week's quotes Share on Facebook Tweet Email Print