If gold and silver were money, no government could do this:
Read about Zimbabwe’s hyperinflation here.
They have now issued a $250 million note!
Inflation is at 165,000 per cent!
Everyone there is screwed.
Government paper money and Keynesianism should be called INFLATIONISM.
Just that some governments inflate less than others.
But they all inflate anyway.
This inflation should NEVER be called a ‘rise in prices’.
It is always a ‘fall in the value of the paper money’.
Read earlier post: “Paper Money Is Unislamic”.
Austro-Libertarian Natural Order Philosophy From Indyeah
Individualistic Austro-Libertarian Natural Order Philosophy From Indyeah
Monday, May 5, 2008
If Gold Was Money...
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Sauvik,
ReplyDeleteRead these moronic articles by Swaminathan Aiyar
http://economictimes.indiatimes.com/Opinion/Columnists/Swaminathan_S_Anklesaria_Aiyar/India_disproves_Friedman_on_inflation/articleshow/msid-2956991,curpg-2.cms
http://economictimes.indiatimes.com/Opinion/Columnists/Swaminathan_S_Anklesaria_Aiyar/RBI_cannot_focus_on_inflation_alone/articleshow/msid-3016685,curpg-2.cms