Inflation Is State-Sponsored Terrorism
The comments below are an edited and abridged synopsis of an article by SchiffGold
North Americans have been labouring under the burden of inflation for well over a year. They feel the pain everywhere, from the gas pump to the grocery store. Once it became impossible to sell the ‘inflation is transitory’ narrative any longer, the Fed began raising interest rates to fight inflation. As a result, the bubble economy is getting shaky. But even some people at the Fed seem to realize this is a fight they can’t win.
In a talk at the Ron Paul Institute, Mises Institute president Jeff Deist called inflation state-sponsored terrorism. “Inflationism is both a fiscal and monetary regime, but its consequences go far beyond economics,” he said. “It has profound social, moral, and even civilizational effects. And understanding how it terrorizes us is the task today.”
In this article, three topics following an introduction are covered in depth: understanding inflation; when money dies; and lessons for today.
“History shows us how money dies. Yes, it can happen here. Only a fool thinks otherwise.”