Top Highlights

• History provides many examples of societies that tried to spend their way to prosperity but failed, although each group thought they were surely smarter than the previous people who tried. Core concepts and lessons in this book have continued to prove true over time, which adds real credibility to my dad’s work. I believe it provides a real-world l...
• The reason it is necessary to have the monetary backed by one or more of these metals is not the real value of the metal; the value is relative. The important factors are the stability they provide for the sustained value of the 'money' in the particular monetary system, when properly used, also limitations they place on the temptations and the abi...
• If the government and its banking system have sufficient supply of these metals, establish an official price per ounce that is line with world market value, and print 'paper' that is fully backed by these metals, there is nothing wrong with paper money. In fact, paper money is more convenient in handling larger business transactions than coins are....
• We realize there are business cycles; ups and downs, better economic periods and worse economic periods. With the debasement of the monetary system, and the influx of more and more fiat money, each cycle will generally be worse with lows becoming lower than the cycle proceeding it. This general down trend will continue at varying rates and degrees ...
• The majority preoccupation of these inflationist and the reason for their desire for an ever-increasing quantity of 'new money,' stems from the same root as all other political fallacies, that is an attempt to get something for nothing. Not only do these groups see inflation as increasing the value of their investments, they are also able to pay ba...