“It is only in the presence of a government that the capitalist process can possibly take on a cyclical (rather than a smooth) pattern, with busts following booms”

THREAD
@mises mises-media.s3.amazonaws.com/Misesian%20Cas… “Exempt from the rules of private-property acquisition and transfer, government naturally desires a monopoly over money and banking and wants nothing more than to engage in fractional reserve banking,”

“The process of #centralization has resulted in #monetary disintegration :”… (1/6)
Democracy: The God That Failed “… the destruction of the former international commodity (gold) #money standard and its replacement with a #dollar-dominated system of freely fluctuating government paper monies, i.e., a global, U.S.-led government counterfeiting cartel” (2/6)