HOW INFLATION FOOLS PEOPLE INTO THINKING THEY ARE RICHER THAN THEY ARE

Jon Alternative Media, Banking, Blogosphere, Economy, Fiscal Policies, Gold, Government, Precious Metals

[The following is an excerpt from the October issue of TDV released to subscribers today] One of the biggest crimes against humanity is central banking and their constant devaluing of their currencies.
Some of the biggest names in history have identified central bank inflation correctly:
-‘By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens.’ – John Maynard Keynes
-‘Inflation is taxation without legislation.’ – Milton Friedman
-‘In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value.’ – Alan Greenspan
-‘The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunists.’ – Ernest Hemingway
Note how eloquently Ernest Hemingway described our world today.
But, Lysander Spooner said it best when he said, ‘In reality there is no such thing as an inflation of prices, relatively to gold. There is such a thing as a depreciated paper currency.’
And so, in this topsy-turvy world of centrally planned banking and printing of fiat currencies it is nearly impossible to gauge the real value of things.

This post was published at Dollar Vigilante on OCTOBER 30, 2015.