Inflation is theft
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Give me Liberty
Rodger Williamson
“That men do not learn very much from the lessons of history is the most important of all the lessons that history has to teach.” – Aldous Huxley, 1894-1963
Almost 250 years ago, the forefathers of these United States drew a line in the sand and refused to accept any further abuses of their rights, liberties, or freedoms by their government. On the sixteenth of December, 1773, in an act of protest, patriots boarded several British ships and threw the entire cargo of tea into the harbor of Boston, something considered by British authorities to be an act of treason.
On the nineteenth of April, 1775, the militia stood their ground against British troops on Lexington Green outside of Boston. The “shot heard ‘round the world” was fired, igniting the American Revolutionary War.
A full year would pass before our Congress would declare our independence from Britain (something we just celebrated earlier this week), and our forefathers still had to fight another five years before our independence would become secure.
Our ancestors went to war with the mightiest military on the planet at that time over a four pence per pound tax on tea. I note this because I wonder what has happened to “We the People” over the last 250 years that we as citizens seem more than willing to suffer “a history of repeated injuries and usurpations, all having in direct object the establishment of an absolute tyranny over these states.”
The national debt of the United States is currently $30.561 TRILLION. That total is a per taxpayer debt of $242,986. That total is how much the politicians that we sent to Washington to represent us have sold us out for, in order to secure their reelection and continued opportunity to enrich themselves.
In order to pay this debt our government, through the Federal Reserve, has ordered the unprecedented excessive printing of U.S. dollars that are not backed by anything, other than the word of our government.
“Gold has long been a source of frustration for politicians who want to extend their power over the economy. …The gold standard cramped their style because there is only so much money you can print when every dollar bill can be turned in to the government, to be exchanged for the equivalent amount of gold. When the amount of money the government can print is limited by how much gold the government has, politicians cannot pay off a massive national debt by just printing more money and repaying the owners of government bonds with dollars that are cheaper than the dollars with which the bonds were bought. In other words, politicians cannot cheat people as easily.” (Thomas Sowell, 1930-____)
Our dollars used to be backed by gold, and later silver, but they are now worth nothing more than a promise. One hundred years ago, in 1922, when the dollar was still tied to gold, $100 then would purchase what takes almost $1,750 to buy today, or inversely, what costs $100 today would only have cost less than $6 to buy back in 1922.
The purchasing value of the U.S. dollar has been reduced through inflation to just 5.7% of its prior value, a reduction of 94.3%! With the devaluation of the dollar, you cannot possibly save money, for the dollars you put into the bank today will be worth less when you need to take that money out to pay for something next year, and at this rate, even just next month.
“Whoever controls the volume of money in our country is absolute master of all industry and commerce…when you realize that the entire system is very easily controlled, one way or another, by a few powerful men at the top, you will not have to be told how periods of inflation and depression originate.” (James A. Garfield, 1831-1881)
It is my fear that we here in the U.S.A. are about to experience a repeat of the hyperinflation that occurred in Germany in 1921-23, where the German Mark went from about 90 Marks per U.S. dollar to 7,400 Marks per dollar in less than a year.
The German government attempted to finance their deficit by simply printing more money, which even further reduced the value of their currency. The increase in the supply of German Marks caused the German Mark to fall in value, which increased the number of Marks needed to purchase goods.
The prices of German goods rose rapidly, which in turn increased the cost of operating the German government, which was then unable to finance their operating costs by raising taxes, because those taxes would have been payable in the ever more worthless German currency.
Soon, life savings were wiped out as German citizens had to carry entire wheelbarrows of cash in order to purchase a simple loaf of bread.
“The Fed can and does increase the money supply all the time, whether it be boom or recession. There hasn’t been a contraction of the money supply since the early 1930s, and there is not likely to be another in the foreseeable future. So now that the money supply always increases, prices in general are always going up, sometimes more slowly, sometimes more rapidly.” (Murray N. Rothbard, 1926-1995)
I wonder how long it will take before enough Americans realize that the theft committed against them by those in Washington has probably been the biggest heist ever pulled off in the history of man?
I wonder when you, the reader, will get mad enough to do something about what Washington has done to every one of us?