On Inflation

Submitted by Bill St. Clair on Fri, 05 Aug 2011 09:21:38 GMT  <== Politics ==> 

Billy Beck reprints a short essay he wrote about the underhanded theft of inflation.

It's really very simple in the basics: when there is more currency, it's worth less, and there are all kinds of political reasons why governments do this sort of thing in order to make themselves look good. Here's the thing: a commodity like gold is not subject to that kind of fraud. That's why a commodity-based currency -- whose value is related to something that people actually value -- is important to sound economics.

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