By Francis Lee for the Saker Blog
Inflation Tax: The Plan to Deal With the Debt - By Peter Comley - pp.209 - July 2013
Reviewed by Francis Lee
Inflation presupposes money. Money has evolved as an unplanned social institution during a period of perhaps 2500 (some would say 5000) years. Still, the worst excesses of inflation have occurred during the 20th century. The prime cause of inflation has been governments trying to overcome rising prices by amortizing (degrading) national debts through printing money in the hope that the subsequent debased currency will significantly reduce the value of debt, private and/or public.