27th April 1964 3627/K/LH Mr. Frederick Nymeyer c/o Libertarian Press 366 East 166th Street South-Holland, Illinois - U.S.A. Dear Mr. Nymeyer, Many thanks for the copy of your letter of April 6th. You have understood the situation quite well. I intended already in the beginning of 1963 to retire, but when I mentioned that to an important liberal friend, he asked me not to resign before an effort had been made to ameliorate the financial position. If I was willing to find with his assistance a follow-up, he felt quite sure that he would be able to get the re- quired financial assistance. Unfortunately this was in a period just before the wage explosion, so that many ex-liberals were of the opinion that there could better be some inflation and full employment than deflation. I know that many people in the States are thinking in the same way. But now, the position has grown more serious; even the E.E.G. economic survey commission has announced last week that the inflation in Europe will go on in 1964, also in England, and probably in the United States. Consumption remains far ahead of investment, and = in the long run " we will not all be dead, in contrast with the statement of Keynes. We are preparing a gold explosion and a world depression and the longer we try to avoid a real cure, the more catastrophical the development will be. Next Friday I will read a lecture at Groningen for young liberals, who invited me already in 1962. I will send you the complete lecture with notes and enclosures. You will find in it several statements of Prof. Von Mises and I hope you will tell him how I am still impressed by his wisdom and clairvoyance. I write this letter in English, with two copies, trusting that you will be so kind as to forward one to Mr. Hazlitt and one to Dr. Von Mises. I have always highly appreciated these gentlemen and their writings have given me a strong support in a country where, practically, I have been the only industrialist who has fought since 1945 for free enterprise and sound money.