http://goldsilver.com/newsletters/newsID/8707/ref/1
The Immorality of it All
Fiat currency in conjunction with highly leveraged fractional reserve banking is the inflationist tool to create all sorts of rigged market mischief. Inflation, the expansion on the monetary supply simply increases boom-bust economic cycle severities and occurrences; inflation is the indirect theft of the average saver's capital. It allows nations to initiate and more easily fund endless wars. It enables a select few to more easily confiscate the wealth of the many.
"Inflationism, however, is not an isolated phenomenon. It is only one piece in the total framework of politico-economic and socio-philosophical ideas of our time. Just as the sound money policy of gold standard advocates went hand in hand with classical liberalism, free trade, capitalism and peace, so is inflationism part and parcel of imperialism, militarism, protectionism, statism, and socialism." - Ludwig von Mises
Tuesday, July 20, 2010
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