If the world as a whole returned to the gold standard there would be such fluctuations in the value of gold that it would very soon prove impractical… - Friedrich Hayek

All the paradigms of culturally evolved institutions, morals, exchange, and money refer to such practices whose benefits transcend the individuals who practice them in the particular instances. The result is that whole groups may be helped by them to expand into what I shall call extended orders, through the effects of practices of which the individuals are not aware. Such practices can lead to the formation of orderly structures far exceeding the perception of those whose actions produce them. They make possible the adaptation of such actions to unknown circumstances and lead to the formation of an indefinitely expansible order which can develop only through group selection, that is, a selection of groups for common attributes possessed by them.

Conservatism proper is a legitimate, probably necessary, and certainly widespread attitude of opposition to drastic change. It has, since the French Revolution, for a century and a half played an important role in European politics. Until the rise of socialism its opposite was liberalism... There is nothing corresponding to this conflict in the history of the United States, because what in Europe was called ‘liberalism’ was here the common tradition on which the American polity had been built: thus the defender of the American tradition was a liberal in the European sense.

The sentence, 'stopping the printing presses,' is a figurative expression, because it is being done now by creating credit by the Federal Reserve System. But this is government action — all inflation is ultimately the result of activities which government determines and can control. And all inflations have been stopped in the past by the government stopping creating money, or preventing the central bank from creating more money. May I add just one thing? See, all inflations have been stopped by people who created or believed in a very naive form of the Quantity Theory, and acted on that. It may be wrong, but it is the only adequate theory effective to stop an inflation.