Episode 280: The End of the Experiment in Unlimited Government
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Is Inflation a Tax on Your Savings?
As the federal government has run out of places to borrow, it's had to come to rely more and more on the federal reserve. The thing that's different about the federal reserve versus all those other entities we talked about: It increases the money supply. Well, that's a tax on every single person who has savings in U.S. dollars. And you're feeling that right now because you could take money out of your bank to go buy gas. But guess what? It's going to buy half as much gas as it did nine months ago.
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