Global Race to the Bottom by Central Banks in Unison
Substitute the term currency war, for coordinated inflation, cloaked in the public announcements, out of the globalist ministers for a single world currency. Do not doubt for a moment that the ultimate goal is to create managed crisis, in order to push sovereign countries into incessant serfdom…
Extra reading – on Weimar Republic hyperinflation
IT ISN’T AN ACCIDENT OR UNINTENDED CONSEQUENCE
“Lenin was right. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.” John Maynard Keynes
Inflation also means that all the talk about how higher taxes will be confined to “the rich” is nonsense. Inflation is a hidden tax that takes away the value of money held by everyone at every income level.
— Thomas Sowell; Dismantling America
The primary cause of inflation is the government printed money, which increases the money supply. Inflation is caused by the purchasing power of your money going down as more and more dollars flood the existing pool of money, which means prices of many essential products, such as food, fuel, and services, go up as more dollars chase the same amount of goods. Inflation is often called “the invisible tax,” which is hardest on the poor, elderly, savers, low-income workers, and fixed-income retirees.
— Robert Kiyosaki; Rich Dad’s Conspiracy of The Rich
Because the United States is printing money, all other countries will probably have to print money. If other countries do not print, then their countries’ currency will become too strong against the dollar and exports to the United States will slow down, causing a slowdown in the exporting country’s economy. This probably means inflation in every country that trades with the United States.
— Robert Kiyosaki; Rich Dad’s Conspiracy of The Rich
The quality of work will decline in an inflation for a more subtle reason: people become enamored of “get-rich-quick” schemes, seemingly within their grasp in an era of ever-rising prices, and often scorn sober effort. Inflation also penalizes thrift and encourages debt, for any sum of money loaned will be repaid in dollars of lower purchasing power than when originally received. The incentive, then, is to borrow and repay later rather than save and lend. Inflation, therefore, lowers the general standard of living in the very course of creating a tinsel atmosphere of “prosperity.” — Murray Rothbard; What Has Government Done to Our Money?
Inflation, then, confers no general social benefit; instead, it redistributes the wealth in favor of the first-comers and at the expense of the laggards in the race. And inflation is, in effect, a race—to see who can get the new money earliest. The latecomers—the ones stuck with the loss—are often called the “fixed income groups.” Ministers, teachers, people on salaries, lag notoriously behind other groups in acquiring the new money. Particular sufferers will be those depending on fixed money contracts—contracts made in the days before the inflationary rise in prices. Life insurance beneficiaries and annuitants, retired persons living off pensions, landlords with long term leases, bondholders and other creditors, those holding cash, all will bear the brunt of the inflation. They will be the ones who are “taxed.”
— Murray Rothbard; What Has Government Done to Our Money?
One of the reasons that economics have been so successful is obscuring the source of inflation is that they have short-circuited the very definition of the word. Nearly everyone believes that rising prices means inflation. So if prices aren’t rising, there must be no inflation.
But rising prices are merely the results of inflation! The inflation is the expansion of the money supply.
— Peter Schiff; How an Economy Grows and Why It Crashes
The banking cartel holds a monopoly in the manufacture of money. Consequently, money is created only when IOUs are “monetized” by the Fed or by commercial banks. When private individuals, corporations, or institutions purchase government bonds, they must use money they have previously earned and saved. In other words, no new money is created, because they are using funds that are already in existence. Therefore, the sale of government bonds to the banking system is inflationary, but when sold to the private sector, it is not. That is the primary reason the United States avoided massive inflation during the 1980s when the federal government was going into debt at a greater rate than ever before in its history. By keeping interest rates high, these bonds became attractive to private investors, including those in other countries.15 Very little new money was created, because most of the bonds were purchased with American dollars already in existence. This, of course, was a temporary fix at best. Today, those bonds are continually maturing and are being replaced by still more bonds to include the original debt plus accumulated interest. Eventually this process must come to an end and, when it does, the Fed will have no choice but to literally buy back all the debt of the ’80s — that is, to replace all of the formerly invested private money with newly manufactured fiat money — plus a great deal more to cover the interest. Then we will understand the meaning of inflation.
— G. Edward Griffin; The Creature From Jekyll Island
In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold…. The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves.
This is the shabby secret of the welfare statists’ tirades against gold. Deficit spending is simply a scheme for the “hidden” confiscation of wealth. Gold stands in the way of the insidious process. It stands as a protector of property rights.
— Alan Greenspan; as quoted by G. Edward Griffin in The Creature From Jekyll Island