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The extraordinary price of fiat money
Regardless of what you see as the biggest problems facing the US – endless deficits, corporate bailouts, the welfare/warfare state – they are all either enabled by, or exacerbated by, our system of fiat money. By giving a central bank the sole legal right to create new money at its own discretion, and for its own purposes, our traditional system of checks and balances has been greatly impaired. No longer is the size and scope of government limited by what voters will allow via direct taxation. The average person simply does not see the link between a falling standard of living and the stealth tax of inflation.
The following video by Dominick Frisby does an excellent job of introducing this elusive concept.
2012-12-10 21:27:44
Source: http://www.cmi-gold-silver.com/blog/the-extraordinary-price-of-fiat-money/
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