Last Notes
"Same price, reduced quality: his customers are initially defrauded until they figure it out."
— Gary North
📖 Ch. 5 - The Contagion of Inflation
Learn more: www.garynorth.com
"Doubled price, same product: he risks losing sales. His competitors may debase instead."
— Gary North
📖 Ch. 5 - The Contagion of Inflation
Learn more: www.garynorth.com
"Should he double his price to get the same amount of silver? Should he debase his product?"
— Gary North
📖 Ch. 5 - The Contagion of Inflation
Learn more: www.garynorth.com
"The businessman faces a problem. He knows he will receive only half-silver coins."
— Gary North
📖 Ch. 5 - The Contagion of Inflation
Learn more: www.garynorth.com
"The government lies, and it enforces that lie on everyone."
— Gary North
📖 Ch. 5 - The Contagion of Inflation
Learn more: www.garynorth.com
"It's a lie which is enforced as if it were truth."
— Gary North
📖 Ch. 5 - The Contagion of Inflation
Learn more: www.garynorth.com
"This artificial price isn't a free market price. It's a form of coercion."
— Gary North
📖 Ch. 5 - The Contagion of Inflation
Learn more: www.garynorth.com
"Gresham's Law should read: The artificially overvalued drives out the artificially undervalued."
— Gary North
📖 Ch. 5 - The Contagion of Inflation
Learn more: www.garynorth.com
"If the government says two coins are equal, which will I spend? The phony coin. I will hoard the full silver."
— Gary North
📖 Ch. 5 - The Contagion of Inflation
Learn more: www.garynorth.com
"Bad money drives out good only when the government says the two are equal in value."
— Gary North
📖 Ch. 5 - The Contagion of Inflation
Learn more: www.garynorth.com
"Economists finally figured out the answer. Something was missing from Gresham's analysis."
— Gary North
📖 Ch. 5 - The Contagion of Inflation
Learn more: www.garynorth.com
"How can bad money drive good money out of circulation? Is something corrupt about market competition?"
— Gary North
📖 Ch. 5 - The Contagion of Inflation
Learn more: www.garynorth.com
"Back in the late 1500s, Sir Thomas Gresham made a famous observation."
— Gary North
📖 Ch. 5 - The Contagion of Inflation
Learn more: www.garynorth.com
"In Judah, they had chosen corrupt practices."
— Gary North
📖 Ch. 5 - The Contagion of Inflation
Learn more: www.garynorth.com
"What determines which yeast is more powerful? The hearts of the people."
— Gary North
📖 Ch. 5 - The Contagion of Inflation
Learn more: www.garynorth.com
"Honest dealing is also like yeast; it too can spread to the whole loaf."
— Gary North
📖 Ch. 5 - The Contagion of Inflation
Learn more: www.garynorth.com
"Specific corrupt practices are like yeast: they corrupt the whole loaf."
— Gary North
📖 Ch. 5 - The Contagion of Inflation
Learn more: www.garynorth.com
"My wrath will become hot, and I will kill you with the sword."
— Exodus 22:24
📖 Ch. 4 - Debasing the Currency
Learn more: www.garynorth.com