End of the Republic

The American Republic is in decline. The decline is self-inflicted, a sort of suicide by choice. Why are people deciding to follow the "Road to Serfdom" over the "Road to Freedom"?

Location: Chesapeake Beach, MARYLAND, United States

Thursday, June 22, 2006


From dictionary.com:

in·fla·tion ( P ) Pronunciation Key (n-flshn)n.
The act of inflating or the state of being inflated.
A persistent increase in the level of consumer prices or a persistent decline in the purchasing power of money, caused by an increase in available currency and credit beyond the proportion of available goods and services.

The only institution that can cause an increase in available currency and credit beyond the proportion of available goods and services is.... the FEDERAL RESERVE.

Nobel Laureate and professor Milton Friedman says, "[I]nflation is always and everywhere a monetary phenomenon, in the sense that it cannot occur without a more rapid increase in the quantity of money than in output." In other words, increases in money supply are what constitute inflation, and a general rise in prices is the symptom.

This means that price rises cannot be caused by greedy businessmen, Arab sheiks, unions, or any other group. These groups could cause a rise in the price of specific goods or services, but not a general price rise.

Inflation acts to redistribute wealth from creditors to debtors. Should I loan you $1,000 and, during the term of the loan, the Fed increases the money supply and causes inflation, you will pay me back with dollars that can buy less (have reduced purchasing power). Who is the largest debtor in the country? Uncle Sam.

Inflation is simply another form of taxation - one under the control of unelected officials.

The cure: repeal legal tender laws and eliminate taxes on transactions involving precious metals. Let the people choose what has value - objectively. This is a much better option than letting the government steal from us.

J. Thyme Matz


Post a Comment

<< Home