Middle Class Is Collateral Damage in Central Bank War On Deflation
“Fighting for the middle class” is a popular cliché, especially in an election year, as political candidates of every persuasion try to win the middle class vote. Truth is, it is the decades of deliberate currency debasement by the world’s central banks that has landed the so-called middle class in its present state—declining real income, degraded standard of living, diminishment of personal wealth, and the growing fear that the future will bring worse, not better. Central banks and politicians are complicit. Currency inflation allows government to continue spending beyond its means. Without continually expanding debt, the monetary system withers and the power of bankers and the federal government contract. As Michael Maloney wrote in his book, Guide to Investing in Gold and SilverContinue Reading →
Central banks and politicians are complicit in debasing the currency to support government spending and prop up the debt-dependent monetary system. And it is the so-called middle class--the working citizens of the world--who foot the bill.