The Federal Reserve Board, the arm of the US government which oversees our money's value, announced last Wednesday that it intends to monetize the nation's debt. This means trillion of dollars of inflation. When this happens, look for prices to go up about 20% over the ensuing 18 months.
Government controls the purchasing power of the dollar. Take a dollar out of your pocket and look at it. It's a piece of paper. No value, except the value the government gives it. When the government s dishonest with you, the value of your money goes down.
Inflation is the craftiest method the government has to tax the poor. Well to do people keep their wealth in their houses, or a few stocks. The very rich keep their wealth even more securely in stocks and bonds. But the masses of the poor keep their money as cash. The poor will be hit the hardest, since the value of their primary asset will merely evaporate.
Lenin, who brought more than 70 years of misery to Russia, declared that the best way to destroy the Capitalist System was to debauch the currency. Only Mr Obama's favorite pets will see an increase in their wealth. What a time to be a venal Democreep! Economic destruction for us and power to the Leftist government.
Mr Geitner told the Congress today that the Obama administration has reason to regulate non-financial institutions on the premise that they want to. The stock market retreated from yesterday's gain. The smart money doesn't want to be holding American assets when the Obama administration decides to federalize.
Lingering malaise, prosperity for none... this is your future, America.