"Somewhere I read that you had written a book on 'The Panic of 1819.' If this is correct, I would like to know where I can buy a copy of it. I have a son who is a particulary avid reader of books about panics and similar phenomena. I would like to present him with the book referred to."
Sannsynligvis fikk Warren aldri lest boken, siden han de siste årene har gitt uttrykk for at han både misliker gull som investering og at han mener Bernanke er en glimrende sentralbanksjef. Buffett mener Bernankes inflasjonskåthet er veldig bra for USA (eller mener han for seg selv?). Jeg har mine meget sterke tvil til at Rothbard ville delt disse synspunktene. Hvis du har lyst å lese boken som Howard ville gi til sin sønn, så finner du den her.
Howard Buffett var for øvrig ingen tilhenger av fiat-penger. I 1948 skrev han i finansavisen The Financial & Commercial Chronicle, noe som jeg synes er ganske treffende for situasjonen vi er i for tiden:
Our finances will never be brought into order until Congress is compelled to do so. Making our money redeemable in gold will create this compulsion.
The paper money disease has been a pleasant habit thus far and will not he dropped voluntarily any more than a dope user will without a struggle give up narcotics. But in each case the end of the road is not a desirable prospect.
I can find no evidence to support a hope that our fiat paper money venture will fare better ultimately than such experiments in other lands. Because of our economic strength the paper money disease here may take many years to run its course.
But we can be approaching the critical stage. When that day arrives, our political rulers will probably find that foreign war and ruthless regimentation is the cunning alternative to domestic strife. That was the way out for the paper-money economy of Hitler and others.
In these remarks I have only touched the high points of this problem. I hope that I have given you enough information to challenge you to make a serious study of it.
I warn you that politicians of both parties will oppose the restoration of gold, although they may outwardly seemingly favor it. Also those elements here and abroad who are getting rich from the continued American inflation will oppose a return to sound money. You must be prepared to meet their opposition intelligently and vigorously. They have had 15 years of unbroken victory.
But, unless you are willing to surrender your children and your country to galloping inflation, war and slavery, then this cause demands your support. For if human liberty is to survive in America, we must win the battle to restore honest money.
There is no more important challenge facing us than this issue -- the restoration of your freedom to secure gold in exchange for the fruits of your labors.Lite visste nok Howard at hans egen sønn ville bli nettopp en av disse som "are getting rich from the continued American inflation" og som ville vise "opposition" mot endringer i pengesystemet. Warren Buffett er en meget oppegående mann som jeg har respekt for, men man skal ikke se bort i fra at Howard snur seg i graven.