AEIdeas

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Discussion: (2 comments)

  1. Continuous inflation has, over time, a remarkable cumulative effect. We can now look forward knowing that every central bank has perpetual inflation, at a moderate but ever-compounding rate, as its goal. So when my five-year old grandson is my age, what once was a penny will be a dollar, and the US and Canada can then dispense with dimes and quarters.

    You are far too optimistic and underestimate inflation. By the time your five-year old grandson gets to be your age there may not be the same currency that you knew.

  2. James Ashby

    ” We can now look forward knowing that every central bank has perpetual inflation, at a moderate but ever-compounding rate, as its goal. ”

    We could look forward to inflation ever since the 1913 Federal Reserve Act claimed the dollar was a supply instead of a standard of measurement, thus sabotaging the gold dollar in order to make way for the price-control scam known as fiat money. There is no money supply, people decide what money is worth, not how much there is. Deciding what money is worth depends, like everything else, on what it is. No fiat-money supporter can say what money is, they don’t care what money is worth, the goal of central bankers, besides robbery, is changing the subject, worries about the amount of inflation serve no other purpose. But central bankers have lost the war, the fiction they rely on evaporates, fiat money grows ever more out of place in the digital age.

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