Inflation is a proven method to tax the poor and middle-class.

Inflation is an ancient-proven method to tax the poor and middle-class.

Inflation was not invented in 1971, when Richard Nixon formally abandoned the gold standard. The UK had already stopped internal convertibility in 1931, US in 1933.

Gold and silver were theoretically also “convertible” during the hyperinflation of the 3rd-century crisis of the Roman Empire, or in Ptolemaic Egypt. 

The inflation of 16th-century imperial Spain had nothing to do with convertibility. 

Governments have generated inflation both with and without gold and silver.

Of course, it’s remarkable that nobody understands what inflation actually is. 

Inflation is a hidden tax on the entire money supply, including bank deposits.

Plus a reduction of domestic production costs, to increase competitiveness in foreign markets in the short term. 

It’s remarkable what governments do with this. And it’s remarkable that almost no one understands it.

Inflation is a massive, hidden tax.