Card IV-11: FRIEDRICH A. HAYEK – With the exception only of the 200-year period of the gold standard, practically all governments of history have used their exclusive power to issue money in order to defraud and plunder the people.

Series IV · Card 11 of 21 · THE VIENNA SEMINAR

With the exception only of the 200-year period of the gold standard, practically all governments of history have used their exclusive power to issue money in order to defraud and plunder the people.

FRIEDRICH A. HAYEK · CHOICE IN CURRENCY · 1976

Turn it over, answer, sign – free, no account.

Source

“Choice in Currency: A Way to Stop Inflation”, IEA Occasional Paper 48 (London 1976), section “Protecting money from politics”, p. 16

Open source · archive.org ↗

About the author

Austrian-British economist and philosopher (1899–1992), Nobel laureate in economics 1974, whose work on competition in money and limits on state control made him one of Bitcoin’s clearest intellectual forerunners.

About the source

Choice in Currency: Hayek’s address of 25 September 1975 in Lausanne, printed in 1976 by the Institute of Economic Affairs.

The question on the back

How much do you trust that money is handled honestly?