<Blockquote>'In general, there are No "Miracle" Cures from Inflation. Rather, inflation slowly destroys the middle class over time for the benefit of banks and the wealthy who were not so foolish as to be over-leveraged in debt.'
- Mike "Mish" Shedlock,
No "Miracle" Cures from Inflation; Impossible to Inflate Out of this Mess April 24, 2011</blockquote>
'The discussion of the theological and moral aspects of money production typically revolves around the—vague—central-bank objective of monetary stability.'<blockquote>'In a brilliant essay, the Lutheran theologian Wilhelm Kasch has argued that the present-day separation of monetary theory and theology has harmed both disciplines. It has driven theology toward a gnostic denial of the world; and it has turned monetary theory into a narrow auxiliary discipline of central-bank policy. Kasch points out that monetary theory, precisely because it is so narrowly conceived, is in the process of misunderstanding its subject matter and losing any scientific foundation, turning itself into a barren intellectual game. See Wilhelm Kasch, “Geld und Glaube. Problemaufriß einer defizitären Beziehung,” idem, ed.,
Geld und Glaube (Paderborn: Schöningh, 1979). This problem persists to the present day. The discussion of the theological and moral aspects of money production typically revolves around the—vague—central-bank objective of monetary stability. See for example H. Hesse and O. Issing (eds.),
Geld und Moral (Munich: Vahlen, 1994).
- Jörg Guido Hülsmann,
The Ethics of Money Production, page 13, note 20</blockquote>