“The way to Hell is paved with good intentions,” remarked Karl Marx in Das Kapital.
The devious fellow was bemoaning evil capitalists for having the gall to use their own money for the express purpose of making more money.
Marx, a rambling busybody, was habitually wrong. The road to hell is paved with something much more than good intentions. Grift, graft, larceny, corruption and fake money are what primarily composes the pavement. Good intentions are merely dusted in to better the aesthetic.
If you want to understand what’s going on with exploding price inflation then you must understand this…
Right now in the United States we have a scam currency that’s controlled by central planners. Specifically, we have what Marx envisioned in Plank No. 5 of his Communist Manifesto:
“No. 5. Centralization of credit in the hands of the state, by means of a national bank with state capital and an exclusive monopoly.”
The Federal Reserve System, created by the Federal Reserve Act of Congress in 1913, is indeed a ‘national bank’ and it politically manipulates interest rates and holds a monopoly on legal counterfeiting in the United States.
Without the Fed’s policies of mass credit creation the U.S. government could have never run up a national debt over $28 trillion. Without the Fed’s policies of extreme credit market intervention the U.S. trade deficit for March of $74.4 billion – a new record – would have never been possible. Without the Fed’s printing press money the U.S. government could have never run annual budget deficits over $3 trillion.
The fact is centralized credit in the hands of a central bank always leads to money supply inflation. Asset price inflation and consumer price inflation then follow in strange and unpredictable ways.
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