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Show i INFLATION IS ROBBERY t i Hundreds of years ago, despots debased their money by clipping coins or increasing the amount of alloy used in minting. "Nowadays governments do it more easily, by creating so much "credit money" or printing so many ! banknotes that the currency loses part of its value. That's inflation. Our inflation has cut the 1952 dollan to 53 cents as compared with its 1939 value a larger clip than any medieval despot would have dared to make in a 13-year period. What with inflation and Federal taxes, you and your wife and two children were as well off with $2,000 income in 1939 as with $4,189 in 1952; with $4000 in 1939 as with $9,118 today. You'd have to make more than a million in 1952 to get your family the equivalent of $100,000 in 1939. Inflation robs you just as a medieval king robbed his people when he sat in his tower filing the edges of gold coins into dust for his private hoard. |