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Very Hot Topic (More than 25 Replies) Inflation Is Just Another Tax (Read 461 times)
SkyChief
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Re: Inflation Is Just Another Tax
Reply #40 - Jul 31st, 2018 at 9:47pm
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Jeff wrote on Jul 31st, 2018 at 4:52pm:
That's too simplistic Chief. The broad statement of the problem is too much government control of everything and anything.

Too much redistribution of wealth.

Too much punishment for incentive and ambition.

Too much government control.

Too many expensive cronies to support.

Too much sloth enabled.

Too much compelled distortion of the economy by Central Bank cronies.

Unless you are a crony...

You're unaware that our arguments coincide perfectly?  We're saying the same thing - just using different POV?

You're toying with me, Jeff...   Admit it.
  
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Jeff
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Re: Inflation Is Just Another Tax
Reply #41 - Aug 1st, 2018 at 6:51am
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SkyChief wrote on Jul 31st, 2018 at 9:47pm:
You're unaware that our arguments coincide perfectly?  We're saying the same thing - just using different POV?

You're toying with me, Jeff...   Admit it.
I agree that inflation is a growth killer, but it's far from the only one.
  
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BobK71
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Re: Inflation Is Just Another Tax
Reply #42 - Aug 1st, 2018 at 9:32am
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SkyChief wrote on Jul 23rd, 2018 at 5:56pm:
When the Federal Reserve bank increases the money supply, it drives down the value (or purchasing power) of the existing money.

This is inflation.

If the Federal Reserve were eliminated, there would be no more inflation, and the prices of goods and services won't continue to go up and up each quarter.

If it costs $2.89 for a dozen eggs today,  it shold cost $2.89 for a dozen eggs next year.  And in 2020.

Americans are already over-taxed.     Inflation is simply another unnecessary tax.

Ron Paul said "End The Fed".  I agree. We'd be so much better off without it.

There is some buzz that Trump might make changes with managing the Federal Reserve:

https://www.cnbc.com/2018/07/20/trump-poised-to-take-control-of-the-federal-rese...


At the most fundamental level, yes, absolutely, the system is all about issuing money to benefit the elites.

At some point, however, the elites learned that unfettered issuance will lead to a fast collapse (e.g. the assignat paper money of the French Revolution.)  The central bank was designed to control the issuance.  The goal is a stable harvesting of the cream of production for members of the elites.  Thus, among educated commentary there is much ado about the 'independence' of central banks.

Of course, the truth is that the only honest and theft-free system would be a free market in money and finance, not a rigged one 'managed' by an 'independent' body of gods.

But, given that all 'serious' and influential commentary is really bought and paid for, the honest system is hardly ever discussed.  Instead, our choice is between the status-quo 'independence' of central banks, and an even more sinister money system controlled by politicians (much like the assignat.)  The latter is what Trump is really arguing for.
  
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Jeff
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Re: Inflation Is Just Another Tax
Reply #43 - Aug 1st, 2018 at 1:48pm
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BobK71 wrote on Aug 1st, 2018 at 9:32am:
At the most fundamental level, yes, absolutely, the system is all about issuing money to benefit the elites.

At some point, however, the elites learned that unfettered issuance will lead to a fast collapse (e.g. the assignat paper money of the French Revolution.)  The central bank was designed to control the issuance.  The goal is a stable harvesting of the cream of production for members of the elites.  Thus, among educated commentary there is much ado about the 'independence' of central banks.

Of course, the truth is that the only honest and theft-free system would be a free market in money and finance, not a rigged one 'managed' by an 'independent' body of gods.

But, given that all 'serious' and influential commentary is really bought and paid for, the honest system is hardly ever discussed.  Instead, our choice is between the status-quo 'independence' of central banks, and an even more sinister money system controlled by politicians (much like the assignat.)  The latter is what Trump is really arguing for.
They are cases being made for a rules based system being far superior to the present discretionary system.

https://www.cato.org/cato-journal/winter-2018/monetary-policy-uncertain-world-ca...

Edit: And of course a gold or other commodity based standard or free market gold backed private money are also better options than the current non-system.
  
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SkyChief
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Re: Inflation Is Just Another Tax
Reply #44 - Aug 15th, 2018 at 11:23am
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"Case in point: inflation. The masses consuming the mainstream media apparently accept the Big Lie that inflation (i.e. loss of purchasing power of our money) is 2%, i.e. near zero."

Inflation = Tax

Inflation is obviously WAY higher than the 2% that is reported.   

The actual inflation is probably closer to 7%  or 8% per yr.

If people knew the actual inflation rate, it would implode the entire system.

https://www.businessinsider.com/if-people-knew-the-actual-inflation-rate-it-woul....
  
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SicklersDink
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Re: Inflation Is Just Another Tax
Reply #45 - Aug 15th, 2018 at 11:28am
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SkyChief wrote on Aug 15th, 2018 at 11:23am:
"Case in point: inflation. The masses consuming the mainstream media apparently accept the Big Lie that inflation (i.e. loss of purchasing power of our money) is 2%, i.e. near zero."

Inflation = Tax

Inflation is obviously WAY higher than the 2% that is reported.   

The actual inflation is probably closer to 7%  or 8% per yr.

If people knew the actual inflation rate, it would implode the entire system.

https://www.businessinsider.com/if-people-knew-the-actual-inflation-rate-it-woul....


Just another way that Americans are being screwed by greedy capitalism.

And you have no direction on how to change it! You're sitting around hoping that one of those LP pies will fall from the sky and you'll be able to gorge yourselves on the freedoms you've had stolen.
  
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SkyChief
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Re: Inflation Is Just Another Tax
Reply #46 - Aug 15th, 2018 at 11:38am
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Just another way that Americans are being screwed by greedy capitalism.

And you have no direction on how to change it! You're sitting around hoping that one of those LP pies will fall from the sky and you'll be able to gorge yourselves on the freedoms you've had stolen.

Capitalism is not the cause of high inflation, Dink.

Fiat money is the real culprit.

As long as the Banks can increase the supply of money [print money] the purchasing power of the money already in existence goes down proportionally...That's the essence of inflation.

"A dollar is a receipt for a claim check on an IOU." - Mike Maloney
  
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SicklersDink
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Re: Inflation Is Just Another Tax
Reply #47 - Aug 15th, 2018 at 11:44am
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SkyChief wrote on Aug 15th, 2018 at 11:38am:
Capitalism is not the cause of high inflation, Dink.

Fiat money is the real culprit.

As long as the Banks can increase the supply of money [print money] the purchasing power of the money already in existence goes down proportionally...That's the essence of inflation.

"A dollar is a receipt for a claim check on an IOU." - Mike Maloney


Inflation is just another of the many problems with greedy capitalism. I think that inflation is being promoted on this forum as an evil, more than it deserves to be, but I'm happy to go along with that promoting.

We're libertarians because we don't like the current corrupt system chief. The only difference is that I don't believe the pies will start falling from the sky, launched by the LP, until the LP is reformed. Now is ot too late to start talking about that!
  
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SkyChief
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Re: Inflation Is Just Another Tax
Reply #48 - Aug 15th, 2018 at 11:52am
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... I don't believe the pies will start falling from the sky, launched by the LP, until the LP is reformed. Now is ot too late to start talking about that!

The LP won't ever be reformed. 

Of course, changes in leadership within the LP can (and should) happen. 

But LP principles are established and will stand the test of time.

Any talk about "reform" of Libertarian principles is pointless - they just won't happen.
  
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SicklersDink
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Re: Inflation Is Just Another Tax
Reply #49 - Aug 15th, 2018 at 12:05pm
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SkyChief wrote on Aug 15th, 2018 at 11:52am:
The LP won't ever be reformed. 

Of course, changes in leadership within the LP can (and should) happen. 

But LP principles are established and will stand the test of time.

Any talk about "reform" of Libertarian principles is pointless - they just won't happen.


Every new leader brings about a little reform. We hope the next one will bring about the reform that is necessary.
  
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