Inflation is not a product of corporate greed or rising wages. It is a fraud perpetrated by government authorities that impoverishes average people while enriching elites.
The Fed’s tampering with market signals undermines the process of wealth generation, thereby exerting an upward pressure on the time preference interest rate and the market interest rate.
When the Nixon administration ended the dollar's ties to gold, it was yet another sad chapter in the US government's abuse of its currency. And the government learned nothing.
