"At the base of the Fed pyramid, and……" — Murray Rothbard
"At the base of the Fed pyramid, and therefore of the bank system's creation of "money" in the sense of deposits, is the Fed's power to print legal tender money. But the Fed tries its best not to print cash but rather to "print" or create demand deposits, checking deposits, out of thin air, since its demand deposits constitute the reserves on top of which the commercial banks can pyramid a multiple creation of bank deposits, or "checkbook money.""
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Murray Rothbard
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95 Quotes by Murray Rothbard
Murray Rothbard has 95 quotes on this site.
A few more worth reading:
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The policy of letting the child 'do what he likes' is an insidious one, since the children are encouraged to…
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Children are prepared for democracy by being led to discuss current events without first learning the systematic subjects (politics, economics,…
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All government wars are unjust.
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...The very nature of interstate war puts innocent civilians into great jeopardy, especially with modern technology.
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The State thrives on war - unless, of course, it is defeated and crushed - expands on it, glories in…
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The libertarian creed...offers the fulfillment of the best of the American past along with the promise of a far better…
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It is easy to be conspicuously 'compassionate' if others are being forced to pay the cost.
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Free-market capitalism is a network of free and voluntary exchanges in which producers work, produce, and exchange their products for…
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The diversity of mankind is a basic postulate of our knowledge of human beings. But if mankind is diverse and…
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There is one good thing about Marx: he was not a Keynesian.
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There can be no such thing as 'fairness in taxation.' Taxation is nothing but organized theft, and the concept of…
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In short, the early receivers of the new money in this market chain of events gain at the expense of…
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More Air Quotes
This quote is filed under Air Quotes,
one of 4,448 quotes in that category. Here are a few more:
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Aside from a handful of guys boxing is missing the good trainers, that's why our sport is so in the…
— Alexis Arguello
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Spare me the whispering, crowded room, the friends who come and gape and go, the ceremonious air of gloom -…
— Matthew Arnold
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On some summer days in New York City, the air hangs thickly visible, like the combined exhalations of eight million…
— Diane Ackerman
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It's much easier to wear a Chairman Mao button and shake your fists in the air and all that, then…
— Lester Bangs
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Let us never forget this: since the day of the air, the old frontiers are gone. When you think of…
— Stanley Baldwin
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Lexington did launch its air group when a Japanese carrier was reported.
— Jack Adams
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Kisses, even to the air, are beautiful.
— Drew Barrymore
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I love roller coasters that make my stomach drop. One ride in Las Vegas, the Big Shot, straps you into…
— Drew Barrymore
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Obviously, the young dancers lack a certain air of maturity.
— Mikhail Baryshnikov
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The nation that secures control of the air will ultimately control the world.
— Alexander Graham Bell
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A rose is the visible result of an infinitude of complicated goings on in the bosom of the earth and…
— Clive Bell
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When friendship disappears then there is a space left open to that awful loneliness of the outside world which is…
— Hilaire Belloc
See all 4,448 Air Quotes »