For the naive mind there is something miraculous in the issuance of #fiatmoney. A magic word spoken by the government creates out of nothing a thing which can be exchanged against any merchandise a man would like to get. How pale is the art of sorcerers, witches, and conjurors when compared with that of the government's #treasurydepartment! The government, professors tell us 'can raise all the money it needs by printing it.' Taxes for revenue, announced the chairman of the #FederalReserveBank of New York are 'obsolete'. How wonderful! And how malicious and misanthropic are those stubborn supporters of out-dated economic orthodoxy who asked governments to balance their budgets by covering all expenditures out of #taxrevenue ! pg. 418, Pt. 4, Ch. 1, sec 2, "The Theory of Money and Credit" , #LudwigVonMises

#BitcoinFixesThis

#MisesCouldveBeenABitcoiner

#MonetaryReconstruction

#ThePrinicipleOfSoundMoney

#TheVirtuesandAllegedShortcomingsoftheGoldStandard

#AustrianEconomics

#Economics

#NOSTR

#growNOSTR