“Excerpt: Paper is a mortgage on wealth that does not exist, backed by a gun aimed at those who are expected to produce it.” Comment of the Day :: The Future of Capitalism

don’t you think Ayn Rand’s picture on the $10 would bring greater awareness of her uncompromising defense of the gold standard? E.g., this from Atlas Shrugged:

Whenever destroyers appear among men, they start by destroying money, for money is men’s protection and the base of a moral existence. Destroyers seize gold and leave to its owners a counterfeit pile of paper. This kills all objective standards and delivers men into the arbitrary power of an arbitrary setter of values. Gold was an objective value, an equivalent of wealth produced. Paper is a mortgage on wealth that does not exist, backed by a gun aimed at those who are expected to produce it. Paper is a check drawn by legal looters upon an account which is not theirs: upon the virtue of the victims. Watch for the day when it bounces, marked: ‘Account overdrawn.’

via Comment of the Day :: The Future of Capitalism.

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