Broken promises to pay money cannot retain purchasing power. The history of legal tender irredeemable paper-ticket-electronic money is that its purchasing power always approaches the cost of producing paper money: near zero! Savers and pensioners will be wiped out.
Savers, seniors and all those engaged in productive enterprise are at unacceptable risk that the purchasing power of promised future payments — pensions, savings, annuities, insurance, etc. — will be an empty bag. The monetary authorities have made it official policy to depreciate the purchasing power (a.k.a. “inflation targeting”) of our broken-promise “money” and may create unlimited quantities to “stimulate” the economy and to distribute them to whomever. If not fixed, the middle class will be wiped out.
For more information, see:
More Information can be found from Larry Parks HR1098 Congressional Testimony 9-13-11
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