It has been proposed that monetary liabilities should be settled in terms of gold and not according to their nominal amount. If this proposal were adopted, for each mark that had been borrowed that sum would have to be repaid that could at the time of repayment buy the same weight of gold as one mark could at the time when the debt contract was entered into. The fact that such proposals are now put forward and meet with approval shows that etatism has already lost its hold on the monetary system and that inflationary policies are inevitably approaching their end. Even only a few years ago, such a proposal would either have been ridiculed or else branded as high treason. . Ludwig Von Mises
About This Quote

Ludwig von Mises, Austrian economist (1881-1973), said, “Even a few years ago, such a proposal would either have been ridiculed or else branded as high treason.” He goes on to say that “even today it is not generally understood that the management of the money and credit system and the government interference in the economy lead inevitably to inflation and, therefore, to a general rise in prices.”

Source: The Theory Of Money And Credit

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