Sheldon Richman Says Inflation Is the Last Thing We Need

Because Fed-created money enters the economy at
particular points (through banks and bond dealers), a select few
people get it sooner than the rest of us. Those who are
thus privileged are able to buy at the old, lower prices,
while the rest of us don’t see the money until prices have risen.
Sheldon Richman contends that that places an implicit tax and
transfer on the rest of us when the government pursues a policy of
deliberate inflation.

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from Hit & Run

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