Lysander Spooner Quotes about Gold

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In reality there is no such thing as an inflation of prices, relatively to gold. There is such a thing as a depreciated paper currency.

In reality there is no such thing as an inflation of prices, relatively to gold. There is such a thing as a depreciated paper currency.

Lysander Spooner

Reality, Gold, Paper

Lysander Spooner (1873). “A New Banking System: the Needful Capital for Rebuilding the Burnt District”, p.21

Practically and commercially speaking, a dollar is not necessarily a specific thing, made of silver, or gold, or any other single metal, or substance. It is only such a quantum of market value as exists in a given piece of silver or gold.

Lysander Spooner

Gold, Dollars, Substance

Lysander Spooner (1971). “The Collected Works of Lysander Spooner: Economic writings”

To measure prices by a currency that is called by the same names as gold, but that is really inferior in value to gold, and then - because those prices are nominally higher than gold prices - to say that they are inflated, relatively to gold, is a perfect absurdity.

Lysander Spooner

Names, Perfect, Gold

Lysander Spooner (1971). “The Collected Works of Lysander Spooner: Economic writings”

Lysander Spooner Quotes about Gold

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