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DEVALUATION
OF
CURRENCY
The conquistadoras brought gold and silver back to
Espaņa. The gold was used for
jewelery and religious items. Coins
were made from silver. The more coins
in distribution, the less they were worth.
During the American Revolutionary War, Benjamin
Franklin printed paper currency. The
more that was printed, the less they were worth. He soon realized that he could pay for the war by the devaluation
of the currency.
During World War II, U. S. war bonds were
sold. A $25.00 bond purchased in 1942
for the principal amount of $18.75 was in 1952, because of inflation, worth in 1942
dollars the principal equivalent value of $11.53. www.minneapolisfed.org
The more government borrows, the more
inflation. That universal economic law
of supply and demand comes into effect.
The federal debt, state debts and local debts keep demand for borrowed
money high and interest rates high.
High interest rates cause inflation.
Inflation is the tax that makes slaves of the middle class.
Elected government representatives that pass unnecessary government
debt on to their children and grandchildren are child molesters.
by Robert A. Kroboth www.citizengadfly.com
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link on your web site.
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PERSONALIZATION O
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O SEPARATION
OF CHURCH AND STATE POSTERS O