Without a central bank government budgets had to obey regular rules of finance; but those raised on the propaganda of the omnipotent government, it is hard to imagine individual freedom and responsibility

Under a sound monetary system, a government had to function in a way that is unimaginable to generations reared on the twentieth-century news cycle: they had to be fiscally responsible. Without a central bank capable of increasing the money supply to pay off the government debt, government budgets had to obey the regular rules of financial responsibility which apply to every healthy normal entity; and which monetary nationalism has attempted to repeal and state education attempted to obfuscate.

For those of us alive today, raised on the propaganda of the omnipotent government of the twentieth century, it is often hard to imagine a world in which individual freedom and responsibility supersede government authority. Yet such was the state of the world during the periods of greatest human progress and freedom: government was restrained to the scope of protection of national borders, private property, ad individual freedoms, while leaving to individuals a very large magnitude of freedom to make their own decisions and reap the benefits or bear the costs…”

The Bitcoin Standard—The Decentralized Alternative to Central Banking, pp. 135-136, Saifedean Ammous