Henry Hazlitt was a famous writer and economist in the twentieth century. Years ago he penned these words:
“Once the idea is accepted that money is something whose supply is determined simply by the printing press, it becomes impossible for the politicians in power to resist the constant demands for further inflation. The first requisite of a sound monetary system is that it put the least possible power over the quantity or quality of money in the hands of the politicians.”
“If the welfarist-socialist-inflationist- trend of recent years continues in this country, the outlook is dark. It is a prospect of mounting taxation, snowballing expenditures, chronic deficits, a budget out of control, an accelerating rate of inflation of the kind endemic in Latin America, a collapse of the dollar and increasing world currency chaos…”
Some of these events have already come to pass and the rest will be forthcoming. You can choose to ignore the warnings of this great thinker, but should you do so, you risk personal impoverishment. You cannot depend on the promises of politicians, economists and Wall Street inflationists to protect your assets or you risk losing everything. Inflation and a falling dollar can wipe you out. Never underestimate the totality of chaos and betrayal that comes through currency debasement.