Quotes
Inflation has now been institutionalized at a fairly constant 5%
per year. This has been determined to be the optimum level for
generating the most revenue without causing public alarm. A 5%
devaluation applies, not only to the money earned this year, but to all
that is left over from previous years. At the end of the first year, a
dollar is worth 95 cents. At the end of the second year, the 95 cents
is reduced again by 5%, leaving its worth at 90 cents, and so on. By
the time a person has worked 20 years, the government will have
confiscated 64% of every dollar he saved over those years. By the time
he has worked 45 years, the hidden tax will be 90%. The government will
take virtually everything a person saves over a lifetime.
- G. Edward Griffin
Monetary inflation is not a natural market force, but an artificial creation by government control of the money supply. Without government control, a currency (such as gold and silver) will maintain its value for thousands of years.