{"id":53520,"date":"2020-06-06T06:23:38","date_gmt":"2020-06-06T11:23:38","guid":{"rendered":"https:\/\/olduvai.ca\/?p=53520"},"modified":"2020-06-06T06:23:44","modified_gmt":"2020-06-06T11:23:44","slug":"unintended-consequences-of-monetary-inflation","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=53520","title":{"rendered":"Unintended Consequences of Monetary Inflation"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><a href=\"https:\/\/www.cobdencentre.org\/2020\/05\/unintended-consequences-of-monetary-inflation\/\">UNINTENDED CONSEQUENCES OF MONETARY INFLATION<\/a><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><em>\u201cIn short, the Fed is committed to rescue businesses from the greatest economic catastrophe since the great depression and probably even greater than that, to fund the US Government\u2019s rocketing budget deficits, fund the maintenance of domestic consumption directly or indirectly through the US Treasury, while pumping up financial markets to achieve these objectives and preserve the illusion of national wealth.<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>\u201cClearly, we stand on the threshold of an unprecedented monetary expansion.\u201d<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Introduction<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">President Reagan memorably said that the nine words you don\u2019t want to hear are \u201cI\u2019m from the government and I\u2019m here to help.\u201d Governments in all the major jurisdictions are now making good on that unwanted promise and are taking responsibility for everything from our shoulders.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Those receiving subsidies and loan guarantees are no doubt grateful, though they probably see it as the government\u2019s duty and their right. But someone has to pay for it. In the past, by the redistribution of wealth through taxes it meant that the haves were taxed to give financial support to the have-nots, at least that was the story. Today, through monetary debasement nearly everyone benefits from monetary redistribution.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This is not a costless exercise. Governments are no longer robbing Peter to pay Paul, they are robbing Peter to pay Peter as well. You would think this is widely understood, but the Peters are so distracted by the apparent benefits they might or might not get that they don\u2019t see the cost. They fail to appreciate that printing money is not just the marginal source of finance for excess government spending, but it has now become mainstream.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"<p>UNINTENDED CONSEQUENCES OF MONETARY INFLATION \u201cIn short, the Fed is committed to rescue businesses from the greatest economic catastrophe since the great depression and probably even greater than that, to fund the US Government\u2019s rocketing budget deficits, fund the maintenance of domestic consumption directly or indirectly through the US Treasury, while pumping up financial markets [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[1928,7380,7783,426,1304,3650],"class_list":["post-53520","post","type-post","status-publish","format-standard","hentry","category-economics","tag-budget-deficit","tag-cobden-centre","tag-credit-expansion","tag-inflation","tag-monetary-inflation","tag-us-federal-reserve"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/53520","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=53520"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/53520\/revisions"}],"predecessor-version":[{"id":53521,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/53520\/revisions\/53521"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=53520"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=53520"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=53520"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}