It proved necessary, therefore, to control these illicit practices and introduce new legislation to cover them. The offenses had to be properly defined and more surely punished; out of this mass of irregularities, sometimes tolerated and sometimes punished with a severity out of all proportion to the offense, one had to determine what was an intolerable offense, and the offenders had to be apprehended and punished. With the new forms of capital accumulation, new relations of production and the new legal status of property, all the popular practices that belonged, either in a silent, everyday, tolerated form, or in a violent form, to the illegality of rights were reduced by force to an illegality of property. In that movement which transformed a society of juridico-political levies into a society of the appropriation of the means and products of labour, theft tended to become the first of the great loopholes in legality. Or, to put it another way, the economy of illegalities was restructured with the development of capitalist society. The illegality of property was separated from the illegality of rights. This distinction represents a class opposition because, on the one hand, the illegality that was to be most accessible to the lower classes was that of property – the violent transfer of ownership – and because, on the other, the bourgeoisie was to reserve to itself the illegality of rights: the possibility of getting round its own regulations and its own laws, of ensuring for itself an immense sector of economic circulation by a skillful manipulation of gaps in the law – gaps that were foreseen by its silences, or opened up by de facto tolerance. And this great redistribution of illegalities was even to be expressed through a specialization of the legal circuits: for illegalities of property – for theft – there were the ordinary courts and punishments; for the illegalities of rights – fraud, tax evasion, irregular commercial operations – special legal institutions applied with transactions, accommodations, reduced fines, etc. The bourgeoisie reserved to itself the fruitful domain of the illegality of rights. And at the same time as this split was taking place, there emerged the need for a constant policing concerned essentially with this illegality of property. It became necessary to get rid of the old economy of the power to punish, based on the principles of the confused and inadequate multiplicity of authorities, the distribution and concentration of the power correlative with actual inertia and inevitable tolerance, punishments that were spectacular in their manifestations and haphazard in their application. It became necessary to define a strategy and techniques of punishment in which an economy of continuity and permanence would replace that of expenditure and excess. In short, penal reform was born at the point of junction between the struggle against the super-power of the sovereign and that against the infra-power of acquired and tolerated illegalities.

Unlawful revenue which, after being conveniently cleaned, is then reinvested within the legal economy: polluting it, corrupting it, forging it, killing it. Whether it’s reinvested in the London property market, in Parisian restaurants, or in hostels on the . Drug trafficking money will buy homes that honest folk can no longer afford; it will open shops that will sell at more competitive prices than legitimate shops; it will start businesses that can afford to be more competitive than clean businesses. But one thing must be clear: these businesses are not interested in being successful; the main purpose for which they were created was to , turning money that shouldn’t even exist into clean and usable money. In silence, illegal assets are moving around and undermining our economy and our democracies. In silence. But it doesn’t stop here; organised crime is providing us with a winning economic model. Organised crime is the only segment of global economy to have not been affected by the ; to have profited from the crisis, to have fed on the crisis, to have contributed to the crisis. And it’s in the crisis that it finds its satellite activities, such as usury, gambling, counterfeiting. But the most important – and most alarming – aspect of this issue is that it’s exactly in times of crisis that criminal organisations find their safe haven in banks.

Overregulation corrupts citizens and weakens the rule of law.

There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.

"Lenin is said to have declared that the best way to destroy the capitalist system was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some. The sight of this arbitrary rearrangement of riches strikes not only at security but [also] at confidence in the equity of the existing distribution of wealth.

Those to whom the system brings windfalls, beyond their deserts and even beyond their expectations or desires, become "profiteers," who are the object of the hatred of the bourgeoisie, whom the inflationism has impoverished, not less than of the proletariat. As the inflation proceeds and the real value of the currency fluctuates wildly from month to month, all permanent relations between debtors and creditors, which form the ultimate foundation of capitalism, become so utterly disordered as to be almost meaningless; and the process of wealth-getting degenerates into a gamble and a lottery.

Lenin was certainly right. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose."

The law has been perverted by the influence of two entirely different causes: stupid greed and false philanthropy. Let us speak of the first.

Paper money has had the effect in your state that it will ever have, to ruin commerce, oppress the honest, and open the door to every species of fraud and injustice.

Paper money has had the effect in your State that it ever will have, to ruin commerce—oppress the honest, and open a door to every species of fraud and injustice.

To permit every lawless capitalist, every law-defying corporation, to take any action, no matter how iniquitous, in the effort to secure an improper profit and to build up privilege, would be ruinous to the Republic and would mark the abandonment of the effort to secure in the industrial world the spirit of democratic fair dealing.

freedom that socialism economic violates incentive, destroys, muffles innovation and entrepreneurship, and innovation undermines meritocracy.

The separate currency reform does serious damage to the economic recovery of Germany. Instead of a uniform German currency there will be two currencies, instead of uniform prices there will be two standards of prices. Trade relations inside the country will be disrupted. In actual fact, inter-zonal trade is becoming trade between different States, in so far as there are different currencies.

Those who obtain or inherit predatory wealth and privilege realize the ultimate means of imposing austerity and demolishing the power of democracies is deception, junk economics....

The law has been perverted through the influence of two very different causes — bare egotism and false philanthropy.

Lenin is said to have declared that the best way to destroy the capitalist system was to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some. The sight of this arbitrary rearrangement of riches strikes not only at security, but at confidence in the equity of the existing distribution of wealth. Those to whom the system brings windfalls, beyond their deserts and even beyond their expectations or desires, become 'profiteers,' who are the object of the hatred of the bourgeoisie, whom the inflationism has impoverished, not less than of the proletariat. As the inflation proceeds and the real value of the currency fluctuates wildly from month to month, all permanent relations between debtors and creditors, which form the ultimate foundation of capitalism, become so utterly disordered as to be almost meaningless; and the process of wealth-getting degenerates into a gamble and a lottery. Lenin was certainly right. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.