Why There’s So Much Confusion over What “Inflation” Means

“Understood properly,  inflation is not a general increase in prices but is an increase in the money supply “out of thin air” which brings about the impoverishment of wealth generators.

When inflation is seen as a general increase in prices, then anything that contributes to price increases is called inflationary. In this framework, not only does the central bank have nothing to do with inflation, on the contrary, the bank is regarded as an inflation fighter.

To avoid being blamed for the nefarious consequences of inflation, the government and its henchmen resort to a semantic trick. They try to change the meaning of the terms. They call “inflation” the inevitable consequence of inflation, namely, the rise in prices. They are anxious to relegate into oblivion the fact that this rise is produced by an increase in the amount of money and money substitutes. They never mention this increase. They put the responsibility for the rising cost of living on business. This is a classical case of the thief crying “catch the thief”. The government, which produced the inflation by multiplying the supply of money, incriminates the manufacturers and merchants and glories in the role of being a champion of low prices.”

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ONE OF THE BIGGEST LIES EVER TOLD IS THAT INFLATION IS A RISE IN PRICES. INFLATION IS THE CREATION OF CURRENCY AND CREDIT OUT OF THIN AIR. THE CONSEQUENCE OF INFLATION IS A RISE IN PRICES. SOMETHING CREATED OUT OF THIN AIR BY FIAT (LET IT BE DONE–AS IF THEY ARE god–IS NOT MONEY. IT IS CURRENCY AND CREDIT. JRD

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