Have you ever wondered why inflation exists?
Have you ever asked "has it always been so"?
In fact, there is little inflation period under the gold standard which was abolished in 1933.
"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. The abandonment of the gold standard made it possible for welfare statists to use the banking system as a means to an unlimited expansion of credit (debt creation)" - Alan Greenspan (#8), 1966
Is it just me, or does this quote from Greenspan chilling. Here is the man that orchestrated the lowest interest rate policy in memory and drove asset prices through the roof and he says in 1966 that the banking system can be used to expand the money supply with UNLIMITED creation of debt!
"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." Lord John Maynard Keynes (1883-1946), renowned British economist.
Interestingly, it was Keynes in 1930 or so who advocated the abandonment of the gold standard.
Is this one of the largest power grabs in the history of western democracy?