Central banking and fiat banking rob people blind. From Ron Paul at birchgold.com:
Sometimes, if put on the spot, folks will hazard a guess.
“They’re a bank, right?” Sort of, but not really.
“They’re the ones who make the stock market go up.” While that’s true, it’s not actually their job to pull the strings on Wall Street.
“They print money, don’t they?” True! Technically, the Bureau of Engraving and Printing, a subsidiary of the Department of the Treasury, physically produces greenbacks (or Federal reserve notes, or dollars).
What the Federal Reserve does is decide the total supply of dollars, and then create or destroy (but usually create) however many dollars they think the world needs.
Thus, as I explained in my article Forget about the gold standard, let’s talk about the copper standard, the Federal Reserve is in charge of either creating or destroying inflation. Mostly creating!
Today, I’m going to show you exactly how the Federal Reserve has abused their inflationary powers to steal from you. If you’re not absolutely furious by the time you’re done reading this article, well, call the Pope – you must be a saint!
If, like me, you’re not a saint, get ready to feel your blood boil…
Inflation robs responsible savers, rewards debtors
When my father was getting ready to retire back in the 60s, his nest egg was invested very conservatively in CDs at the bank. That made sense for him, because at the time, banks paid 2-3% over the rate of inflation. He didn’t have to worry about the value of his money declining faster than it grew.
