Is the hyperinflation caused by adopting a fiat currency the most egregious tax on the American people?
March 1st, 2010 | 
Author: I realize that inflation is inherent in any economy, but abandoning the gold standard cause inflation to grow more quickly.
Since our dollar pays for less and less every year is it fair to equate this increased inflation to an aggressive tax?
This is the shabby secret of the welfare statists’ tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.
Alan Greenspan 1967, Federal Reserve Chairman from 1987 to 2006.
One of the biggest causes of the current economic conditions were his actions as the Fed, yet he had telegraphed it decades earlier.
Posted in fiat currencies
How about we stop spending and printing so much.
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The gold standard turned recessions into depressions. Good thing we dumped it.
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On net savers; yes.
Unfortunately for them the majority of us are net debtors. That said; our needs far outstrip supply that any fiat currency can provide. There simply isn’t enough gold to back our dollar.
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Wasn’t that another Democrat initiated program. I mean tax.
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Yes, but going back to the gold standard is impossible since enough gold does not exist even in the entire world to support such a standard. The answer is to have gold backed money as a competing currency so we have something with real value
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i still shop at wallfart
i want to see the end of american jobs
ha hahahahahha
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Stop spending and bail outs and printing of money!
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This is the shabby secret of the welfare statists’ tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.
Alan Greenspan 1967, Federal Reserve Chairman from 1987 to 2006.
One of the biggest causes of the current economic conditions were his actions as the Fed, yet he had telegraphed it decades earlier.
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Well, genius, since we’re now in 2010, no, I would not agree this is "the most egregious tax on the American people."
If I was going to dig into unchangeable history, that would be the federal income tax.
Be productive–the dollar is the world’s currency. Perhaps fighting to keep it that way is productive now.
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