Many citizens want more government control of the economy to curb rising prices. It is the worst strategy imaginable. Interventionist governments never reduce consumer prices because they benefit from inflation, dissolving their political spending commitments in a constantly depreciated currency. Inflation is the perfect hidden tax.That’s right, what is actually the best solution for citizens is the worst solution for the government in general. To get elected, politicians promise things to get votes. Then, they pay for those things largely by printing money. Well, printing money is free, right? Everybody likes more money! The economically illiterate (let’s face it, most of the population) think they’re getting free gifts from the government. In fact, we’re ALL paying for that free gift. Thanks to inflation, “the perfect hidden tax.” Again, from Lacalle:
[Government] presents itself as the solution to rising prices with subsidies in an increasingly worthless currency. That is why socialism and hyperinflation go hand in hand.“Socialism” here means increased government intervention in markets – price controls, for example. And, aside from government control, what are socialist governments known for? Propaganda. Gaslighting. Trying to fool their citizens into thinking that it’s anything but the government’s fault that the economy is deteriorating. Because the government’s on YOUR side! That’s why they’re going after price-gouging grocery stores, evil oil companies and fat-cat homebuilders. That’s why Vladimir Putin is still to blame for high gas prices two years later. Kind of like we’ve been hearing from the White House for the last few years…
If you want lower prices, you need to give less economic power to the government, not more. Only free markets, competition, and open economies help decrease consumer prices.Yes, the government can help the most by staying out of it. Now, maybe you’re one of the people who, on reading that, exclaim, “But we live in a free market capitalist society! Why aren’t prices lower and things better?” And that’s a great question to ask.
Many readers might think that we currently have a free market with competitive and open economies, but the reality is that we live in increasingly intervened and overregulated nations where central banks and governments work to perpetuate unsustainable public deficits and debt.Just stop to think about how many permits, zoning issues, environmental impact statements, parking studies, licenses, and other regulatory hoops that you have to jump through to start a corner store. It’s absurd. On the other hand, you must also consider just how many jobs all those regulations create! Municipal surveyors, city councils, architects, planning commissions, biologists, transportation consultants (yes, it’s a real job!), countless lawyers and low-level bureaucrats… Hundreds of people go to work every day, benefiting from the miles and miles of red tape. The net result of all that red tape, though? It limits innovation. It stifles economic growth. Bureaucracy acts like a parking brake on wealth creation. So the government solution to stagnant economic growth? You already know! More regulations. More committees, more bureaucrats and more intervention. All these additional jobs are financed by more debt – fuelling inflation and depressing economic growth at the same time. The government cares more about growth of power than economic growth.
For most of U.S. history – 1789 to 1971, a period of 182 years – the United States embraced the idea of a currency that is stable, reliable, and definite. In practice, this meant a currency whose value was linked to gold, the best real-world way to achieve these goals.So what? Well, consider this:
The result was that the U.S. became the wealthiest country in the world…Alan Greenspan agrees, calling those 182 years:
…a period of extraordinary global prosperity, characterised by firming productivity growth and very little inflation. But today, there is a widespread view that the 19th century gold standard didn’t work. I think that’s like wearing the wrong size shoes and saying the shoes are uncomfortable! It wasn’t the gold standard that failed; it was politics.Diversify your savings with inflation-resistant, tangible assets that have always had intrinsic value: Physical precious metals. Owning physical gold and silver gives you a sturdy foundation on which you can build a secure financial future. Gold and silver are immune to the “perfect hidden tax” of inflation. And in times of crisis, demand for riskless tangible assets soars. We can’t return everyone to “a period of extraordinary global prosperity” – but each and every one of us can put ourselves on a personal gold standard. Open a Precious Metals IRA today to diversify with funds you’ve already saved, or learn more about our home delivery service. Remember – the government’s best solutions just make the problem worse. it’s up to you to take the first step on the path to financial freedom. Read more at: BirchGold.com
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