One of the great excuses for governments doing little or nothing about surging inflation is that there is only one tool to dampen it; that is raising interest rates to retard speculative investing. This deception is used as an excuse for fiddling while Rome burns.
The fact is you can control inflation by slowing down the rate of the growth of the money supply. Milton Friedman, President Ronald Reagan’s chief economic adviser firmly controlled the money supply, otherwise known as M-1 in the early 1980’s. He said in 1970 “Inflation is always and everywhere a monetary phenomenon.” Cheesy politicians use inflation for their personal political plans, which isa source of corruption and speculation to benefit from inflation. This killer cure is being ignored by the Bush administration, the Fed and the Congress.
Make no mistake about it, if you make your voice heard, the political pygmies in Washington, D.C. will run for cover. They want to ignore limiting the growth of the money supply, hoping you won’t notice your savings and net worth going up in the smoke of inflation.
Write and call your Senators and Congressmen today, and demand limiting the growth of the money supply.
