From The Quotable Mises — surrounding passage

The Theory of Money and Credit , p. 468 No emergency can justify a return to inflation. Inflation can provide neither the weapons a nation needs to defend its independence nor the capital goods required for any project. It does not cure unsatisfactory conditions. It merely helps the rulers whose policies brought about the catastrophe to exculpate themselves. The Theory of Money and Credit , p. 481

“Inflation is the true opium of the people and it is administered to them by anticapitalist governments and parties.”

The Theory of Money and Credit , p.