Quotessence
Home / Quotes / Quote by Murray Rothbard

Quote by 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."”

Quote by Murray Rothbard

Create image

Author

Murray Rothbard
Murray Rothbard

Murray Rothbard was a renowned economist known for his profound understanding and advocacy of free-market economics. He had extensive research and contributions in the fields of economics, political philosophy, and history. more

You May Also Like

“The optimist sees a light at the end of the tunnel, the realist sees a train entering the tunnel, the pessimist sees a train speeding at him, hell for leather, and the machinist sees three idiots sitting on the rail track. "The optimist proclaims that we live in the best of all possible worlds; the pessimist fears this is true."”

WorldEndsLightThreeHellSittingTrainTrackIdiotCynicismIdealismOptimistEnteringTunnelsLeatherPessimistRealistRailSpeedingLight At The End Of The TunnelEnd Of The Tunnel
Author:James Branch Cabell
Create image

“There's no reason to assume that my idea of what's better would really be better. I resent it when other people try to inflict their ideas of betterness on me. I don't think they know. And I can't see any authority on the horizon that's got any answers that seem worthwhile. Most of the things that are suggested are probably detrimental to your mental health.”

PeopleThinkingKnowsTryingI CanIdeasReasonSeemsAnswersAuthorityMental HealthAssumingNo ReasonHorizonWorthwhileCynicismIdealismResentDetrimental
Author:Frank Zappa
Create image

“I think utopianism and eschatology are really two sides of the same coin. They both assume that some massively transformative event is going to happen that's going to completely change the nature of society. They only disagree on whether we get a happy ending or all die horribly. And so utopianism is on the wane right now because at the moment most of the plausible candidates for huge historical transformation look like they're going to kill us.”

ThinkingLooksTwoMomentsHappensDiesSidesEventsHugeRight NowTransformationAssumingHistoricalCandidatesDisagreeCynicismIdealismCoinsHappy EndingsTwo SidesPlausibleEschatology
Author:Phillip Sandifer
Create image