Blog-IT-o ergo sum

	1/22/2005

A con-artist's definition of inflation:

Somehow it seems appropriate that the Federal Reserve Bank of New York has chosen to mis-inform the American public in a comic book format. A picture named FEDinflation.jpg

In the monetary world the only correct definition of inflation is, "an increase in the money supply." Here is what is conveniently left out of the FED's comical (if it wasn't so egregious) explanation: prices generally rise as suppliers of goods and services react to the debasement of a fiat currency which they are bound by law to accept as payment for things of real value.

And I bet you thought the largest store of gold in the world was Fort Knox too?

(Masonic conspiracy buffs take note of the NY FED's address on Liberty street.)

4:20:38 AM

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