Why are sound money and liberty linked? Why are some conservatives against sound money?
(From The Washington Times)
…printing confiscates value from every person holding or owed dollars and transfers it to debtors, shifting wealth from savers to spenders, from the prudent to the reckless. It violates the spirit of the Fifth Amendment’s prohibition against taking private property for public use without just compensation. It also elevates institutional privilege over individual liberty, rejecting the principles of classical liberalism upon which this country was founded.
Worse, the Fed prints this money by buying government bonds from banks, funneling ever more resources through Wall Street to the state. Abandoning the discipline of gold thus enabled the explosion of the regulatory and welfare state by freeing the government from the practical limits imposed by direct taxation. What could be less conservative than defending the foundations of the nanny state?