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Title: Money and inflation
Source: YouTube
URL Source: http://www.youtube.com/watch?v=r0mOTJR_1Lo
Published: Jul 5, 2011
Author: Thomas Selgas
Post Date: 2013-07-21 23:16:10 by GreyLmist
Keywords: Money, Inflation, Labor Cost, Material Cost
Views: 674
Comments: 12

Description: A look at the insidiousness nature of inflation caused by the use of unconstitutional paper legal tender (Federal Reserve Bank Notes) rather than lawful money coin defined in Title 31 United States Code sec. 5112(a)(7)-(10) and (e).

Poster Comment:

inflation: "Why Play Leap Frog?" 1949 Harding College Economics Cartoon - YouTube

Description: Cold War-era cartoon aimed at convincing workers that increased productivity brings about greater purchasing power. Public domain film from the Library of Congress Prelinger Archive, slightly cropped to remove uneven edges, with the aspect ratio corrected, and mild video noise reduction applied.

This video basically suggests that the way to control inflation is to play Leap Frog faster -- keep increasing production as the way to lower the cost of products...depend on Exporting, maybe, to sustain that method. If Demand doesn't increase enough here or elsewhere for the extra Supply produced to lower the selling price, that's a possible business failure problem as a result of the overproduction and an increased unemployment problem -- not an inflation problem remedy, imo.

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Begin Trace Mode for Comment # 7.

#1. To: GreyLmist (#0)

Generally, the first vid is right on and the second on is pure propaganda in that it blames price increases on wage "inflation" not taking into account the feds increasing the money supply and the taxes taken. In the 100 years before the fed money supply (gold & silver) increased slower than productivity so wages were up and prices were down (at least relatively). In the 100 years since the fed the money supply has risen faster than production, the FRN has lost 98% of its value measured in prices, productivity is up and wages are falling.

The premise that I have to continually produce more to maintain purchasing power while the fed skims all the increases by charging interest on the increased money supply is obscene. Oh and unconstitutional.

Hmmmmm  posted on  2013-07-22   0:55:25 ET  Reply   Untrace   Trace   Private Reply  

Generally, the first vid is right on and the second on is pure propaganda in that it blames price increases on wage "inflation" not taking into account the feds increasing the money supply and the taxes taken. In the 100 years before the fed money supply (gold & silver) increased slower than productivity so wages were up and prices were down (at least relatively). In the 100 years since the fed the money supply has risen faster than production, the FRN has lost 98% of its value measured in prices, productivity is up and wages are falling.

The premise that I have to continually produce more to maintain purchasing power while the fed skims all the increases by charging interest on the increased money supply is obscene. Oh and unconstitutional.

Bingo.

Wage Inflation is a myth invented by paid Keynesian whores to justify government intervention in the economy to support the Banksters.

Wages, in every objective study, lag behind inflation. Increased wages are a result of inflation not a cause. In inflation adjusted dollars the average working man or woman is now making LESS than they were in 1968. The inflation of the late 1970's was particularly brutal on the working person. It was good for the Banksters though. Wages never go up at the rate of inflation - except in Gubbermintland. Which of course explains why gubbermint jobs are so eagerly sought by many.

Inflation can be most simply summarized as "too many dollars chasing too few goods". That is when the supply of money in circulation is expanded at a rate greater than the production of new goods and services then each successive dollar is worth less because there are more dollars seeking to by the same quantity of goods. As a result each successive dollar produced is worth less. This is called the marginal value of money i.e., what each successive dollar is worth at, and beyond, the margin. It seems complex when you first read it but the concept is simple. Dollars are being printed at a rate greater than goods and services are being produced. So, you get too many dollars chasing too few goods.

Original_Intent  posted on  2013-07-22   14:25:44 ET  Reply   Untrace   Trace   Private Reply  

#8. To: Original_Intent (#7)

Wage Inflation is a myth invented by paid Keynesian whores to justify government intervention in the economy to support the Banksters.

It is deception though deflection: Blame the greedy worker for rising prices instead of the banksters printing the currency. I hope you can help Grey on her journey.

Hmmmmm  posted on  2013-07-22 15:45:34 ET  Reply   Untrace   Trace   Private Reply  

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