The Final Outcome Of The Credit Expansion

It Is Not Enough For [the Investor] To Know All The Factors That Can Possibly Contribute To The Determination Of A Future Event. In Order To Anticipate Correctly They Must Also Anticipate Correctly The Quantity As It Were Of Each Factor's Contribution And The Instant At Which Its Contribution Will Become Effective.

Inflation Is An Increase In The Quantity Of Money Without A Corresponding Increase In The Demand For Money, I.e., For Cash Holdings.

As Soon As The Economic Freedom Which The Market Economy Grants To Its Members Is Removed, All Political Liberties And Bills Of Rights Become Humbug.

In The World Of Reality, Life, And Human Action There Is No Such Thing As Interests Independent Of Ideas, Preceding Them Temporarily And Logically. What A Man Considers His Interest Is The Result Of His Ideas.

Do Not Give In To Evil, But Proceed Ever More Boldly Against It.