Letter to the Editor
Dear Editor, Asheville Daily Planet,
In March 2009, the Federal Reserve printed one trillion dollars in new currency, entirely untethered to anything of value, to prop up previous failures of government intervention.
What will be the effect of the injection of this new, additional money on all current and future currency? The effect of inflation of the money supply is currency debasement.
Currency debasement leads to price increases as markets seek equilibrium. However, when the money is new, it holds its current value. When that money eventually trickles down it is worth less and less over time. The rich and well-connected get to use the money while it temporarily retains value. The rest of us get the debased money. And so do your children, and their children.
Economist and philosopher Frederic Bastiat said, "Government is the great fiction through which everybody endeavors to live at the expense of everybody else."
It is time now, at long last, to put an end to generational theft and unconstitutional over-reach before the U.S. dollar collapses and the vision of the Founders is a curious textbook memory.
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