The Big Think

May 31, 2013

Quoth

Filed under: Politics — jasony @ 7:16 pm

“Inflation is a special concern over the next decade given the pending avalance of governmnet debt about to be unloaded on world financial markets. The need to finance very large fiscal deficits during the coming eyars could lead to political pressure on central banks to print money to buy much of the newely issued debt.”

Alan Greenspan, Financial Times, June 26, 2009

“Inflation has now been institutionalized at a fairly constant 5% per year. This has been scientifically determined to be the optimum level for generating the most revenue without causing public alarm. A 5% devaluation applies, not only to the money earned this year, but to all that is left over from previous years. At the end of the first year, a dollar is worth 95 cents. At the end of the second year, the 95 cents is again reduced by 5%, leaving its worth at 90 cents, and so on. By the time a person has worked 20 years, the government will have confiscated 64% of every dollar he saved over those years. by the time he has worked 45 years, the hidden tax will be 90%. The government will take virtually everything a person saves over a lifetime.”

G. Edward Griffin

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