For all the gold and silver stolen and shipped to Spain did not make the Spanish people richer. It gave their kings an edge in the balance of power for a time, a chance to hire more mercenary soldiers for their wars. They ended up losing those wars anyway, and all that was left was a deadly inflation, a starving population, the rich richer, the poor poorer, and a ruined peasant class.
His hair isn’t turning gray—it’s turning silver, and it’s going up in value. Aging is the best hedge against an inflationary fiat currency.
I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.