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.
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.
by Robert A Kroboth WWW.CitizenGadfly.Com
Please print and distribute copies of this publication and put this link on your website.
Please click the following links: