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Dec 18 2012

The Cruelest Tax: Inflation

Kudos to Karl Ushanka for shining some light on the cruelest tax — inflation. If Obama’s economic policy of profligate government spending and massive expansion of the money supply seems familiar, you may be a student of Russian history:

Lenin triggered inflation to eliminate the Tsarist monetary system, which he planned to replace with centrally-managed rationing. He increased the money supply twenty-five fold. Lenin said:

“The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation.”

According to the government, US inflation has been moderate. But outside of the “mainstream” media, who trusts anything emitted by the Debt Star? If we believe the price of commodities instead, we get a very different story:

Since November 3rd, 2008, the last business day before Obama was elected president, the US dollar has lost 58% of its purchasing power (gold), and 70% of its purchasing power (silver). The same date range shows a 41% purchasing power loss to gas, and 11% to milk.

Do you think it’s awful, what they are doing to your savings? Just wait until the Obama/Bernanke tag team finishes pushing us off the cliff into hyperinflation. Here’s what we have to look forward to:

At Lenin’s death in 1924, the inflation rate was approximately 5,000,000%. By comparison: 1923 Germany: 3.817B% inflation. Zimbabwe, just four years ago: 4.700B%. Despite the warnings, each of these hyperinflation events was triggered by overprinting the nation’s currency.

For perspective, today’s $3.15 gallon of gas would cost this much next month:

1924 Russia: $113,125
1923 Germany: $1,001,962,500
2009 Zimbabwe: $1,236,375,000

Inflating the money supply with “stimulus packages” backed by “quantitative easing” gives our rogue government the power to tax not only “the rich” but literally every human being who holds so much as a cent of US currency. This tax will continue to rise until our money becomes worthless.

Since Obama can essentially steal the entire economy through inflation, why the big fuss about raising taxes on “the rich”? Simple: it is a Marxist dog and pony show, intended to rally the support of the vicious, envy-poisoned lowlifes who constitute Obama’s base. As the Manchurian Moonbat has admitted, the point of raising taxes is not to produce revenue, but to inflict “fairness” on his enemies.

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  • please insert name here

    Do all your spending in the next two weeks before taxmageddon and the barackaclypse hits. Hussein and his merry band of marxists couldn’t operate a brothel outside a lumber mill and certainly not the biggest economy in the world.

  • forest

    This is the #1 thing that will destroy the country.

  • Ummah Gummah

    .

    Since Germany between the two World Wars is mentioned:

    Greeks and Spaniards are snapping up Berlin Real Estate with cash payments, no questions asked while German taxpayers have to fill out forms for anything over a few thousand.

    Meanwhile, luxury yachts flying the Greek flag are becoming increasingly dominant in the ports dotting the Ligurian Sea in Italy.

    An even better way to dispossess Americans would be something like TARGET-2.

    Here a GREEK explains how to effectively hold another larger more prosperous and hard-working country hostage:

    http://www.protesilaos.com/2012/03/what-bundesbank-and-target-2-tell-us.html

    And he’s snarkily laughing all the way to the bank.

    Imagine banking done this way between the USA and Mexico. I’m surprised the Onederchild and his tax cheat Geithner haven’t tried to implement something like that between the USA and all the poor countries in Latin America. And who knows, why not include Egypt and Pakistan, to name but two?

    What’s the bottom line here? The EU is a giant RIPOFF designed to TRANSFER WEALTH and nothing else.

    Globalism benefits the shiftless and the lazy, the leeches and the exploiters.

    Imagine foreigners buying luxury penthouses in New York, borrowing the money from a local American bank, which gets a paper credit for the money from a bank in Mexico or in Bangla Desh..

    Back to the Bottom Line:

    NATIONAL SOVEREIGNTY ABOVE ALL • AMERICA FIRST !!

    .

    .

  • Ghost of FA Hayek

    When we near the end, fingers start pointing, and rears start to be covered.
    http://www.bloomberg.com/news/2012-09-19/fed-s-fisher-says-u-s-inflation-expectations-rising.html
    Fisher first blames others at the Fed for not listening to him
    Then he covers for the Fed by blaming Congress for the failure of those stimuli
    He knows what history has in store for us with all that “high octane fuel” out there, and no growth.
    But stagflation is a term so feared by Keynesians, no one dare even say the word.

  • Winston Smith

    Some of the inflation in the grocery store is hidden by companies being forced to shrink the amount of product in the package. Earlier the 4 pound bag of sugar came to my area – as long as I can remember it was always 5 pounds. The price is the same per package but you get 20% less product. For now flour is still in 5 pound bags. But I imagine they will shift to 4 pound bags to match sugar.

    Things sold by the gallon like Milk and Gasoline are impossible to hide. Though Orange Juice used to be sold in half gallon 64 oz cartons/bottles and now they hold typically 59 oz. Years ago they shrank ice cream from half gallon 2 qt blocks to oblong containers holding 25% less or 1.5 QR
    Boxes of breakfast cereal continue to shrink. Now 8 oz. sizes are appearing.

    Ive managed to keep my montly food bill level only by buying items on special and mostly when coupons are also available.

  • Comrade J

    Study history, study history. In history lies all the secrets of statecraft.

    -Winston Churchill

    USA in the past had its currency completely devaluated (during the Revolutionary War). Brits helped in part by flooding the country with counterfeit money.

    USA survived because it was self reliant. Question is how can YOU become self reliant. I suggest you study it the question carefully.

  • Mr Evilwrench

    I got food, I got boolits, I got what we need to live until the parasites starve, and after. Will we rebuild soon after? Hard to tell, but my progeny have the best I can give them.

  • sth_txs

    Yeah, those tax cutting and government reducing Republicans work night and day as well to protect us peons from the ravages of inflation. :LOL:

  • DonB

    The deservedly eminent Thomas Sowell had some comments on this last week: Sometimes Government’s Biggest Tax Bite Is Out Of Poor.

    Related quotes:

    “Inflation is the cruelest tax” — variously attributed to both Ronald Reagan and Milton Friedman (both of them probably said it at one time or another)

    “Inflation is the one form of taxation that can be imposed without legislation.” — Milton Friedman

    “Inflation is as violent as a mugger, as frightening as an armed robber and as deadly as a hit man.” — Ronald Reagan

    “By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens.” — John Maynard Keynes (yes, even Keynes understood)

  • Ghost of FA Hayek

    “By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens

    That wealth being the value of your labor

  • Captain Obvious

    Helicopter Bennie’s overheating printing presses will contribute mightily to inflation.

  • dan

    I still get change for my silver quarter when I convert it to ‘fiat money’ when I buy a gallon of gas,bread,etc.
    that I payed as a kid.
    Got silver ? The common mans gold.

  • Pingback: Issue No. 1: Inflation « THE SCARECROW

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