Fed and inflation theft

Paul: Of course I know the Fed is privately owned. It’s a private enterprise and has never had an external audit, ever. The law that gave over police-enforced monopoly power over currency and the entire economy was passed by a sneaky move, on Christmas Eve of 1913, while most honest Congressmen had gone home for Christmas. Fiat currency is a pestilence on the economy, be it by a parasite banking consortium, or by government. That’s the major means of wealth transfer from the poor and middle class to the super-rich, in fact: money printing. Big member banks get the first new money, then let their biggest corporate clients use the money for their profit, and it trickles down until by it gets to the rest of us it’s worth a lot less than in used to be.

Inflation is a theft from our pockets. And their bought-and-sold “economists” say this is good!$ Such a big fat lie! Inflation is not good for housewives and fixed incomes. But it sure does give statists a political billy club….

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3 Responses to “Fed and inflation theft”

  1. Todd Topolski Says:

    I can mostly agree except for the term fiat currency. Anything can be currency, the requirement bascially is there can be more currency than the value of everything. Everything being labor, assets, ideas, land, material, I have heard numbers like the US is worth about 500trillion. The problem is inflation is exculsively caused by government. Not everything they do but most of it. For example, it is in fact less costly to maintain a standing army and it is more effective at preventing total loss, than each person or group doing their own militias. BUT in reality the vast majority of government is inflationary because it is not necessary and less efficient. Every single law they pass has a cost and this cost is reflected as inflation. Inflation by any government cause, including money printing or the scams of the Fed, which is a monopoly, monopolies can only exist by government protection, making the Fed government, is what causes money to become devalued. A “gold” standard is not in anyway a help here because there is simply not enough gold in the world to represent the value of everything.

    Also, there is no money transfer from the poor to the rich. Neither Bill Gates, Oprah nor Zuckerburg or even JK rowling became billionaires by some sort of money transfer of this type. BUT the so called bankers participating in the government monopoly, they do get rich along with their bureaucrat and politican friends making them all a member of the parasite political class. It is the political class and all those associated to it or using it who get rich by stealing from others. So lets place the target where it belongs. It is not a rich man who earned his money or had a good idea who is the problem, it is those rich people in or using government to steal from others.

  2. trutherator Says:

    Anything can be currency, the requirement bascially is there can be more currency than the value of everything

    There’s no way at all to calculate the value of any currency. “Medium of exchange” is a better idea for what I would have in mind, which can be anything people use for it. In a free market it works itself out. What do you measure the currency by? There’s the idea that the dollar is backed by the “full faith and credit” of the US Government.

    There’s not much faith anymore in the credit of the US.

    And I suggest a rethink on the idea that government can do militias more efficiently or cheaper than the people, but quite the opposite.

    “…there is simply not enough gold in the world to represent the value of everything.””

    Well, we don’t know that. There’s any way it could work out, but it doesn’t have to be just gold.

    But consider that point. You can represent a dollar with a piece of gold better than with paper. The constitutional media for currency are gold and silver.

    If gold and silver aren’t enough, well, goodness, use anything of value! There is no way at all anyway to invent a “measure of value” that is independent of everything it’s used to measure. No way. Every human being ascribes a different value to something than another.

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