Chris Martenson, author of Crash Course, in this recent article, provides an update on his analysis of the Consumer Price Index (CPI) and argues that the world is in for big trouble. He says, “…fiscal and inflationary train-wrecks are the most probable outcome for the US — and, by extension, the globe.” I agree.
One point needs to be clarified. When speaking about inflation, one must distinguish between currency inflation and price inflation. Price inflation or cost of living can be affected by a number of causes, but the usual and primary cause is currency inflation, that is the debasement of a currency by the monetary authorities by creating money on an unsound basis, notably, the monetization of government debt.
The recent policies of “quantitative easing” followed by the Federal Reserve amount to counterfeiting U.S. dollars under color of law. The ultimate effects will be to steal the value of your savings, and the destruction of the middle class.
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Good point, Joel. Since the enclave clause limits the power of the federal government, all money created by the fed, in violation of Art 1, Sec 10, would only be limited to federal ownership of land, and federal territories, most of which are subject only to military purposes.
If the federal govt. issues legal tender, it can only be for the extension of military power.
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doesnt sound like counterfitting. they govt isnt and cat pass of its own product as a fake of its own product.
as far as sound banking principles when have they ever existed in the us??
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“The recent policies of “quantitative easing” followed by the Federal Reserve amount to counterfeiting U.S. dollars under color of law. ”
is the govt made the law allowing themselves to create more money how is that counterfeiting??
It’s counterfeiting in the sense that the “law” may be unconstitutional (the Constitution is the “supreme law of the land”), and in the sense that it violates established sound banking principles.
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When the Supreme Court ruled that legal tender was constitutional both in war time and peace, Justice Field in his dissent wrote “why should there be any restraint upon unlimited appropriations by the government for all imaginary schemes of public improvement, if the printing-press can furnish the money that is needed for them?”