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Thread: Sound Money and Jobs Plank by Jake Towne

  1. #1

    Sound Money and Jobs Plank by Jake Towne

    RPF member Jake Towne nails it.

    Sound money is the hallmark of a prosperous society. Fraudulent money impoverishes and enslaves societies, and history teaches it commonly rips them apart in blood-soaked wars. Sound money not only imposes fiscal discipline upon government, impeding reckless federal spending and imprudent warfare, but it also provides a stable unit of account, store of value, and medium of exchange for entrepreneurs, businesses, and individuals.

    When the Federal Reserve inflates or deflates the money supply, there is no net benefit to society whatsoever. Obviously, the key to prosperity does not lie in running a printing press endlessly, like Zimbabwe, and it defies logic that America's prosperity would increase if every American helped deflate the money supply by burning a $100 bill.

    Inflation and deflation are simply methods to redistribute wealth. It is easy to see that inflation benefits debtors and hurts savers on fixed incomes, like many retirees. Conversely, deflation benefits savers and hurts debtors. However, there is no net gain. In large part due to the burden of the $12 trillion dollar debt, the American government chooses inflation to avoid insolvency.

    http://news.goldseek.com/GoldSeek/1263834203.php



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  3. #2

    Who Says Inflation is Dead?

    By The Daily Reckoning|Jan 18, 2010, 3:37 PM|Author's Website

    Inflation is a hidden tax, an insidious crime against the public. It is the easiest way for any government to confiscate the savings of the public and for generations, wealth has been transferred in this manner.

    Remember, money is supposed to be a store of value, however due to reckless central bank-sponsored inflation, it can no longer fulfill this critical role. Unfortunately, nobody questions the inexplicable loss of the purchasing power of their savings, thus, central banks get away with financial murder.

    Inflation distorts the economy, it brings great harm to the public and it encourages speculation and mindless risk-taking. In fact, inflation acts as a poison for retired people since they are no longer able to earn more money in order to maintain their standard of living. So, thanks to inflation, most senior citizens are unable to enjoy the fruits of their labor.

    Before we delve further, we want to make it absolutely clear that inflation is defined as the increase in the quantity of money and debt within an economy. And contrary to what the governments want you to believe, inflation is certainly not an increase in the general price level within an economy. Instead, an increase in the general price level within an economy is a consequence of inflation. Allow us to explain this subtle yet critical difference:



    http://wallstreetpit.com/14304-who-s...lation-is-dead
    Last edited by bobbyw24; 01-19-2010 at 08:43 AM.



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