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“Just trying to do the hardest thing of all – to understand”

… They are just a way of swindling the public

… They are just a way of swindling the public

December 3, 2016 Nate

Bill Bonner Letter April 2016

Say’s law tells us that money doesn’t really matter. “You buy products with products” is the vernacular expression. If you want to buy something, you have to produce something that you can trade for it. The “money” just greases the transaction.

If you “in ate” the currency, you are asking for trouble. Not merely because the additions to the money supply imply a reduction in the value of currency outstanding (inflation). But also because the additions to the money supply do not represent genuine increases in wealth that can be exchanged for other wealth. They are just a way of swindling the public.”


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Federal Reserve, Inflation, Money

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For the naive mind there is something miraculous in the issuance of fiat money. A magic word spoken by the government creates out of nothing a thing which can be exchanged against any merchandise a man would like to get. How pale is the art of sorcerers, witches, and conjurors when compared with that of the government’s Treasury Department!

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