mart Posted September 26, 2014 Share Posted September 26, 2014 By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens. Link to comment Share on other sites More sharing options...
Anna B Posted September 27, 2014 Share Posted September 27, 2014 True. They can inflate our deficit away or at least reduce it. By the same measure they can reduce the value of savings and money in everyman's pocket. Link to comment Share on other sites More sharing options...
Longcol Posted September 27, 2014 Share Posted September 27, 2014 True. They can inflate our deficit away or at least reduce it. By the same measure they can reduce the value of savings and money in everyman's pocket. False. Government cannot control prices of some essential commodities we have to import eg. oil. Link to comment Share on other sites More sharing options...
Mecky Posted September 27, 2014 Share Posted September 27, 2014 False. Government cannot control prices of some essential commodities we have to import eg. oil. No? How come they tax it then? Link to comment Share on other sites More sharing options...
Cyclone Posted September 27, 2014 Share Posted September 27, 2014 True. They can inflate our deficit away or at least reduce it. By the same measure they can reduce the value of savings and money in everyman's pocket. False, most wealth is in the form of assets, which inflate along with everything else. Inflation only devalues fiat currency, not wealth. And currency (in the form of the savings you mention) makes an income, which is generally higher than the rate of inflation (although probably not at the moment or for the past 5 years). ---------- Post added 27-09-2014 at 08:34 ---------- No? How come they tax it then? The ability to tax something doesn't depend on having control of the market price. Link to comment Share on other sites More sharing options...
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