Daily quote by Gold standard

• • Galbraith, 'Money': With sound-money & gold-standard morality..destruction of the Bank..villainous In recent heightened democratic ethos..speaking for small, energetic aspiring folks of new states, farms & frontier. He was their accidental ally..favored hard money..gold & silver..eschewing all paper..getting rid of the bank..got..the softest [money]..But this & loans..were what constituents wanted..Historians must allow he was confused
• It is the outstanding merit of gold as the monetary standard that it makes the supply and the purchasing power of the monetary unit independent of government, of office holders, of political parties, and of pressure groups. The great merit of gold is precisely that it is scarce; that its quantity is limited by nature; that it is costly to discover, to mine, and to process; and that it cannot be created by political fiat or caprice. It is precisely the merit of the gold standard, finally, that it puts a limit on credit expansion.
  • Henry Hazlitt, The Inflation Crisis and How to Resolve it, as quoted in Hazlitt on 100% Gold, Mises Institute