Americans want to blame inflation on everything under the sun except the real reason it occurs.
Inflation (the decreased buying power of dollars, or the increased cost of goods and services) is caused by the Federal Reserve System’s printing of currency not backed by precious metals.
Every time another dollar is printed by the Fed, it decreases the value of the other dollars already in circulation.
American cash used to be as good as gold. Do you know why? Because American dollars used to be backed by silver and gold stored in a government vault.
The serial numbers printed on US currency years ago identified the precious metals backing the currency.
After the Federal Reserve came into existence, the gold-backed currency was removed and replaced by monetary notes/loans. The serial numbers on US dollars today represent promises by the government to back the value of the money.
When the dollar was backed by precious metals, there was no inflation. The government couldn’t print more money than it had in gold and silver.
In today’s world, the U.S. government can print as much money as it wants. This is called a fiat currency system. In a fiat currency system, the money is not backed by anything of substance. It’s a Ponzi scheme that is legal for banks to run because the Federal Reserve System says it’s legal.
If you or I printed money and distributed it to society, the authorities would throw us in jail. The Federal Reserve System does this practice every day.
Fractional Reserve Lending
Have you ever heard of the words Fractional Reserve Lending? You would be surprised to know how many Americans never learned about this subject in school.
For every dollar a person deposits into a US bank, the bank can create ten dollars out of thin air, and lend those dollars to bank customers. This is outright fraud, yet it is legal for banks to do.
Most of the dollars people believe they have in bank accounts don’t exist. The banks don’t have enough dollars in their inventory to satisfy the accounts of all their customers. If more than a few people went to a bank and asked to have all their dollars withdrawn, the bank would have to close its doors or deny the withdrawal requests.
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