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The Forum > Article Comments > Inflation: distorting the economy > Comments

Inflation: distorting the economy : Comments

By Puru Saxena, published 25/1/2010

Inflation is a hidden tax, an insidious crime against the public.

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It would be nice if Puru had studied economic history. If he had he would realize that the 19th century deflation was caused by tremendous increases in productivity, vast increases in exploitation of natural resources and, of course, colonized peoples. The inflation of the Pound is similar and the Brits had no Fed. Inflation was created to solve two problems. The need to pay for war and the need to keep the economy from collapsing.
Keynes was right. Capitalism without induced demand enters a Marxist predicted collapse. Of course, the use of amphetamines to keep the economy expanding has limits, which loans from China no longer seem o work.
The bankster rulers could care less about inflation. Almost all their real and personal property appreciates and there are the ones that determine when war starts and when the economy needs a boost.
Posted by 124c4u, Monday, 25 January 2010 11:23:11 AM
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124c4u,

This pseudo economic political ranting is tiring.

We get it. You don't like capitalism, imperialism etc.
Posted by Shadow Minister, Monday, 25 January 2010 3:59:44 PM
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Shadow Minister
Thanks. I have never read a more brillant, incisive critique.
Posted by 124c4u, Tuesday, 26 January 2010 9:33:59 AM
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This is what Ron Paul has been on a about for decades.Since the instigation of the US Federal Reserve in 1913 the money supply above pop/GDP increases has exploded by factor of 25 times.$1.00 now will only buy 4 cents worth of goods compared to 1913.It is the Fed and it's ability to create money from nothing that depreciates our currencies.

If you counterfeit money you go to gaol.These Reserve banks do it with impunity,diluting the value of our currencies.The Fed is responsible for the the GFC and the huge bubble of derivatives ie money based on money expectation,which have no value in terms of productivity.That bubble has yet to burst since the bailout money has not been loaned for job creation in small businesses but rather to make the bubble bigger.

Nothing will stop the collapse of the US dollar.Once it begins to slide,we all will be in big trouble.

Good article.
Posted by Arjay, Tuesday, 26 January 2010 11:53:35 AM
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Arjay,
The problem is not the tool, the Fed. The Fed is wholly owned and operated and by the banksters. If the Fed was done away with something else would be invented to replace it. Each country has a central bank and it serves their banksters just as the Fed does the US banksters. The Fed was invented to reduce the violent booms and busts of the 19th century, not very successfully. Except for Jackson's closing of the National Bank monetary policy had nothing to do with the crashes and booms.
Posted by 124c4u, Tuesday, 26 January 2010 12:15:00 PM
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124c4u.The problem is not the Fed? You like others are under the illusion that the Fed like our RBA is owned by the people.No so.The US Federal Reserve is made up of 12 private banks and the US Govt has only a board of Govt officials who are compliant to the agendas set by the Fed.The Govt Reps headed by the likes of Elizabeth Coleman[the Chief Inspector] are toady boys to the people of real power.

This GFC is corruption of monumental proportions of the likes we have never seen since the Great Depression.The bailouts went to the banksters and their mates funded by the tax payer.Trillions of dollars in super disappeared in derivative ponzy trading scams,yet not a word from our elustrious leaders who were complicit in this fraud.

Both sides of politics are guility of betraying the Aust people.It is a matter of us having the courage to hold them to account.
Posted by Arjay, Tuesday, 26 January 2010 9:05:46 PM
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