The state no longer has any checks on how much power they grab, or how much money they take.  Money would have to be taken directly from you under the gold standard.  This you can see.  Under paper it’s completely different.  The money can be taken directly from you without you seeing how much is taken out of your check.  Just because it’s out of sight doesn’t mean it’s out of mind.  You’ll see the effects of printing money all around.

Inflation is actually the increase in the quantity of money.  Prices will, almost, certainly rise.  This is a symptom of inflation.  It’s not what inflation is.  Money printing is redistribution.  The new cash is redistributed to the early receivers.  Now, you must face these higher prices.  This is not much different from taxes increasing.  In addition, money has been taken from your bank account and retirement account.

Control over the money supply is necessary to expand their power.  The state is held back by how much it can tax.  Taxes are visible.  Inflation is not.  The state couldn’t expand too much under gold.  They must gain control of the nation’s money.  They do this by using paper and not gold.  The state can’t print gold, and the barrier has been removed.  Now, anything they want, they just print.

The only way to get gold on the free market is trade for it or mine for it—sometimes a gift.  The state gets gold by taking it.  They are held back from taking too much.  To solve this issue, they have instituted the greatest swindle ever.  Rather than use gold, they’ll use paper.  On top of that, they have granted themselves the power to counterfeit.  They were limited in taking gold.  They’re not limited in how much they counterfeit.

Nothing gives the state more power than the central bank.  The central bank is not a federal agency, but its not a market institution.  It wouldn’t exist if the state didn’t create it.  Its defenders will push this so they can say its “above politics.”  That couldn’t be further from the truth.  The central bank is very political, and does everything it can to help the state expand power.  It’s a myth that any central bank is independent.  It’s the greatest swindle.

Reference

Murray Rothbard; Economic Controversies