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R.J. Rushdoony on Inflation

The Chalcedon Foundation:
Inflation is one of the results of managed money, and managed money is the cornerstone of socialism. In fact, socialism is impossible without managed money. Managed money is the deliberate, state-controlled debasing or counterfeiting of money as the basic form of social planning. Paper money, and coins of baser metals passing in the place of silver or gold, is managed money, whereas gold and silver coinage, which constitutes real wealth, is valid money. For money is not merely a medium of exchange: it is a form of wealth, and if the medium of exchange is a controlled and counterfeit one, wealth is progressively confiscated and destroyed.

Posted by Editor at May 29, 2008 05:10 AM