Inflation’s worse curse
Ending inflation by abolishing the Fed, a central bank of any kind, repealing the current legal tender laws, getting the government entirely out of matters of the economy
By Morry Markovitz —— Bio and Archives--April 13, 2012
American Politics, News | Comments | Back To Full Article
Probably the worst of the many bad aspects of an inflationary economy (and one with a central bank is always inflationary) is its effect on savings, which is 2-pronged:
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- Inflation discourages saving and encourages spending of what people earn, and
- It destroys the value of accumulated previous savings over time (which is part of the reason for point 1. above).
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