Introduction

Central banks have spent decades flooding the global economy with newly created money. We are told this policy, or what is called a monetary inflation, is needed to stimulate economic growth and keep unemployment low. But like so many of the justifications that politicians and bureaucrats offer for their actions, this one is a lie. Monetary inflation breeds not only poverty and chaos, but also government tyranny. Few policies are more calculated to destroy the existing basis of a free society than the debauching of its currency.