[Social Security is] a Ponzi scheme -- named after Charles Ponzi, who set up a similar plan in Boston in 1920. He promised to pay investors 50% profit on their money in just 45 days. Gullible people poured money into his plan. But he couldn't possibly earn enough on the money to equal the rate of return he promised. So when someone wanted to withdraw his principal and interest, Ponzi simply paid him from money received from new investors. Eventually he couldn't meet the demands for repayment, and his scheme collapsed. He ended up in jail. But another such scheme was started in 1935, and this one is still going. It's called Social Security. Social Security differs from a Ponzi scheme in only two ways: 1. The politicians won't arrest themselves. 2. The politicians can change the rules whenever necessary to keep the scheme going.

So what is government?... Very simply, it is an agency of coercion. Of course, there are other agencies of coercion -- such as the Mafia. So to be more precise…

Social Security is inherently unsound for the simple reason that it's a political program run by politicians for political purposes...Social Security operates …

Security... it's simply the recognition that changes will take place and the knowledge that you're willing to deal with whatever happens.

A national debt, if it is not excessive, will be to us a national blessing.

The stock of money, prices and output was decidedly more unstable after the establishment of the Reserve System than before. The most dramatic period of instab…

Between 1999 and 2004 there was no investment in Australia, it all went into housing and consumption all borrowed on the current account. When Peter Costello r…