Alasdair Macleod on sound money

I support sound money for two very good reasons.  Firstly, it is a basic human right to choose to save, without our savings being debased by the tax of monetary inflation.  Those who are worst affected by this inflation tax are not the rich, they benefit; but the poor and the barely well-off, which is why monetary inflation undermines society and why the right to sound money should be respected.  If government gives itself a monopoly over money, it has a duty to protect the property rights vested in it.  Secondly, it is a basic right for us to own our own money rather than have it owned by the banks.  For them to take our money and expand credit on the back of it debases it.  It is an abuse of an individual’s property rights and a banking licence is a government licence to do so.  If anyone else was to do this, they would be guilty of fraud.  Banks should be custodians of our money, and it should not appear in their balance sheets as their property. 

Sound money guarantees a stable yet progressive economy where people are truly equal. It allows people to save properly for their retirement so that they will not become a burden on the state. It leads to democracy voting for small governments. It encourages peaceful trade and discourages war. It is the only path, after this mess, that leads us to long-lasting and peaceful prosperity. We really need everyone to understand this for the sake of our future.

~ Alasdair Macleod, speech given to the Committee for Monetary Research and Education in New York,  October 20, 2011

(as quoted by Tim Price in "Chauffer Knowledge and the Crack-up Boom," December 5, 2022)

Johh Hathaway on the great monetary experiment

The consituency for sound money is all but vanished. 

~ Johh Hathaway, co-portfolio manager, Sprott Gold Equity Fund

David Einhorn says "gold is money"

To me gold represents money. There are different types of money – some people think gold is a commodity and they like to think about jewelry demand and how much is coming out of the ground and so forth – I think of gold as money. You can have dollars, or you can have Yen or Euros or Pounds, or you can have gold. I think the merit of gold is that given our current monetary and fiscal policy [in the US] as well as the problems in the other major currencies, gold is the money of choice that we would like to have a meaningful amount of our assets denominated in.

~David Einhorn, founder, Greenlight Capital, interview, May 2011

Marc Faber on monetary liars and crooks

Why did the dollar collapse against the price of gold? You call up Mr. Greenspan and Mr. Bernanke and you ask them about it. Of course they will never give an answer. Each time Ron Paul asks them a sensible question, they just evade the question and they move on to something else. Because, as I explained, they're a bunch of liars. And actually, if there was a court for honest money, both Mr. Greenspan and Mr. Bernanke should be hanged.

~ Marc Faber, Financial Sense Newshour interview with Jim Puplava, January 12, 2008

Ron Paul on Ben Bernanke's .25% rate cut

America 's economic difficulties, especially the problems in the housing market, are the direct result of the Federal Reserve's inflationary policies. While prices for gold, oil, and staple commodities continue to rise, the purchasing power of the dollar for all Americans continues to fall.

Inflationary monetary policies created the problems in the economy we are seeing, and these problems will be made worse, not better, by more inflation. And today's action by the Fed is very bad news for American workers and retirees who are about to get hit with yet another jump in prices.

Make no mistake, the problems faced by the American people are not caused by unscrupulous mortgage brokers or the rising price of oil. These are symptoms of an economic disease caused by a spendthrift Congress enabled by loose monetary policy. Too many pundits praise the weak dollar as benefiting exporters, but they fail to see the harm done to thrifty, hard-working Americans.

Rather than continuing to pursue a policy of easy credit and increasing debt, we need to return to a sound monetary system.

~ Congressman Ron Paul, December 11, 2007

Alan Brown on sound money

You can't have an honest population with a dishonest currency.

~ Alan Brown

Grover Cleveland on a sound and stable currency

Manifestly nothing is more vital to our supremacy as a nation and to the beneficent purposes of our Government than a sound and stable currency. Its exposure to degradation should at once arouse to activity the most enlightened statesmanship, and the danger of depreciation in the purchasing power of the wages paid to toil should furnish the strongest incentive to prompt and conservative precaution.

Grover Cleveland in his second inaugural address, March 4, 1893

Grover Cleveland (1885-1889, 1893-1897)
1938