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Thread: England no good, don't know what they talking.

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    Default England no good, don't know what they talking.

    http://www.acting-man.com/?p=46407



    Only know Ben and Buch.

    1. Inflation does not affect everyone equally. Those who are wealthy and well-connected to the banking system are benefiting from inflation, because they are usually among the earliest receivers of newly-created money.

    2. The fact that monetary inflation inter alia causes a kind of “reverse wealth redistribution” because newly created money doesn’t reach everyone in the economy at the same time and gradually distorts prices as it spreads from earlier to later receivers has been known since Richard Cantillon published his treatise on economics and monetary theory in the early 18th century. Of course modern-day central bankers deny that this is the case, or simply pretend that this knowledge doesn’t exist. Unfortunately that means they are either lying or ignorant – and yet, they get to make decisions that affect us all.

    3. The lower one goes down the socio-economic pyramid, the more adverse the effects will be, as by the time new money gets into the hands of those less well off, it will already have lost a lot of purchasing power.

    The fiat money system protects and serves only certain strata of society: the financial sector (and those connected to it), the government, various government cronies and the rich. Everyone else is impoverished by the system, and what is even worse, becomes dependent on it.

    Those familiar with the system often know what to do to hedge against the risks of deterioration in the economy and the currency. But many others, such as middle class professionals and the working class, as a rule have less opportunity to diversify what wealth they have, and usually don’t have the time and opportunity to properly inform themselves about the system’s workings.

    They are more likely to simply hold savings in the form of bank deposits. This fully exposes them to monetary debasement, zero or even negative interest rates, as well as bank insolvency risk.

    4. “We should distinguish between morally justified and unjustified inequality. When someone gets rich because he is productive and satisfies the wishes of people in a cheaper and better way than his competitors, we should applaud him. The resulting income inequality is justified.
    The problem starts if someone earns an income due to government intervention such as licenses, other regulations, or simply tax transfers. The resulting income inequality is unjustified. Getting richer at the expense of others through the use of the fiat monetary system, which represents a government monopoly and banking privileges, is unjust.”
    Last edited by Arcachon; 14-10-16 at 20:27.

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