"The decrease in purchasing power incurred by holders of money
due to inflation imparts gains to the issuers of money..."
Review, Nov. 1975, p.22, Published by The Federal Reserve Bank of St. Louis
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Reader comments about this quote:
American Idol is very exciting this year. What's Britney up to? Which celebrity couple is the cutest? --- Proud American
 -- Tony D., Toronto, Ontario     
    Very interesting! I had never considered where the "value" went when it fled due to inflation on money in peoples' savings, for instance.
     -- wuz2blu, Portland, OR     
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    Only thing worse is DEFLATION! Thumbs down for shallowness and misleading nature of it and it will obviously arouse the rabble unnecessarily.
     -- Waffler, Smith     
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    Waffler, I smile, you are the poster child for Tony's Proud American. Back in the land of rabble and reality, but not unnecessarily so, hmm, yep. Great system if you're one of the issuers of money, a temporary illusion of materialistic wealth and a harsh task master for everyone else. I almost put a thumbs down for what its done.
     -- Mike, Norwalk     
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    I think I mentioned this in a previous post. A Federal Reserve Note (otherwise referred to as a 'US dollar') today can buy what a penny could buy in 1930. People who save their money, lose its purchasing power over time due to inflation. The whole system is designed to keep people in debt -- for example, borrow 10K today and pay it back with money that is worth even less due to inflation -- this is considered smart so plenty of people are completely in debt. The problems occur of course when the economy busts and people are in hock up to their eyeballs. And those that saved are punished by inflation. Interesting to note that the purchasing power lost by inflation is GAINED by the banks that issue it!!! Do the math -- the central bank owns all the money in circulation, we just pay 'rent' on it and the bank has laid claim to an immense field of power. Wake up, Waffler.
     -- E Archer, NYC     
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    The loss of purchasing power due to inflation is exactly the same as a tax increase except more subtle. It hits people on fixed incomes the hardest.
     -- jim k, austin     
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    Inflation works very well as a tool of control. Affluent, educated, armed people are difficult to control aren't they? So Inflation is one in a three pronged attack on Americans by their own government.
     -- J Carlton, Calgary     
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    For some answers: www.moneyaswealth.blogspot.com
     -- MoneyAsWealth, Minneapolis, MN     
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