DEVALUATION

OF

CURRENCY

 

The conquistadores brought gold and silver back to Espaņa.  The gold was used for jewelry and religious items.  Coins were made from silver.  The more coins in distribution, the less they were worth.

During the American Revolutionary War, Benjamin Franklin printed paper currency.  The more that was printed, the less they were worth.  He soon realized that he could pay for the war by the devaluation of the currency.

During World War II, U. S. war bonds were sold.  A $25.00 bond purchased in 1942 for the principal amount of $18.75 was in 1952, because of inflation, worth in 1942 dollars the principal equivalent value of $11.53.  www.minneapolisfed.org

The more government borrows, the more inflation.  That universal economic law of supply and demand comes into effect.  The federal debt, state debts and local debts keep demand for borrowed money high and interest rates high.  High interest rates cause inflation.  Inflation is the tax that makes slaves of the middle class.

Elected government representatives that pass unnecessary government debt on to their children and grandchildren are child molesters.

DEVALUATION OF CURRENCY

by Robert A Kroboth     WWW.CitizenGadfly.Com

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POLITICS AND WARS

CONSUMER

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LEGENDARY ARTWORK

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HEDONIC COOKBOOK

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SEPARATION OF CHURCH AND STATE POSTERS

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