Age Quote by Llewellyn Rockwell
“Welcome to the age of paper money, where governments and central banks can manufacture as much money as they want without limit. Gold was the last limit. Its banishment as a standard unleashed the inflation monster and leviathan itself, which has swelled beyond comprehension.”
About This Quote
Describes how abandoning gold as a monetary standard allowed unlimited money creation, leading to massive inflation and powerful financial forces.
In simple terms: Dropping gold let governments print endless money, causing huge inflation.
Key Takeaway
Recognize the risks of unchecked monetary expansion.
Themes
economics
monetary policy
inflation
history
Mood
cautionary
analytical
Type
historical
economic.
When to use this quote
- government budgeting
- investment decisions
- public policy debates
Key Concepts
fiat currency
central banking
gold standard
Questions to Reflect On
- What safeguards can limit inflation?
- Is some inflation ever beneficial?
A Different Perspective
Potential benefits of fiat money, like flexibility, are ignored.
![“My guess [is] . . . that the great majority of Americans are saying they favor gun control when they really mean gun banishment. . . . I think the country has long been ready to restrict the use of guns, except for hunting rifles and shotguns, and now I think we're prepared to get rid of the…” quote by Roger Rosenblatt](https://sms4smile.com/quotes/img-quotes/32a/roger-rosenblatt-13478_banishment_my-guess-is-that-the-great-majority-of-a_1099121.jpg)
