Blind Robbery!: How the Fed, Banks and Government Steal Our Money by Philipp Bagus & Andreas Marquart

Author:Philipp Bagus & Andreas Marquart [Bagus, Philipp]
Language: eng
Format: epub
Tags: Political Science, Political Economy
ISBN: 9783862489084
Google: aeIADQAAQBAJ
Amazon: 3898799824
Publisher: FinanzBuch Verlag
Published: 2016-06-06T00:00:00+00:00

Summary:

In order to be able to fund ever-increasing state expenditures, primarily to finance the welfare state, governments prefer taking on debt over raising taxes. In this way, the burden on the people is not directly felt. The connections between state debt and its results — redistribution of income and wealth as well as a reduction in the purchasing power of money — are thus skillfully veiled. It now becomes clear why politicians love paper money so much, and cling to it for all they are worth. It is because state debt at current levels is only possible in a state-monopolized paper money system.

Using the consumer price index determined by the State Statistical Office, price stability is simulated, but it does not exist in reality. This has the purpose of maintaining trust in state money and to ensure the flow of loans to the government on the most favorable terms. Potential falls in prices are prevented through expansion of the money supply.

The expansion of the money supply leads to rising prices, to increasing company profits, and to increasing wages and salaries for workers and employees. This raises the state’s income from taxes automatically. Progressive taxes mean that more financial means are available to the state than would be the case without an increase of the general price level. At the same time, the rise in prices devalues the state debt that is already accumulated, to the detriment of savers and the users of money.

State money and inflation have created an unstable and corrupt financial system that more and more people are dependent on. And the only one who can bail out companies or people during the always recurring crisis, is the state itself. Thanks to ever-increasing state expenditures people depend ever more on the state. The power of the state increasingly grows and solidifies. People are corrupted by bad money, accept the continual printing of money due to fear for their own wealth, and close their eyes to the unavoidable catastrophe ahead.

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