Thursday, October 7, 2010

Ludwig von Mises quote

I've reference this quote before, but I just wanted to remind a few folks for emphasis, given recent world currency events.

There is no means of avoiding the final collapse of a boom brought about by credit (debt) expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit (debt) expansion, or later as a final and total catastrophe of the currency system involved.

– Ludwig von Mises

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