Herbert W Armstrong

Jeff Calkins  

Inflation is not just an economic problem. It is an international curse. It causes moral decay and untold human hardship. Yet few realize there is hope. Inflation will be stopped when the right world government comes to power. If you woke up tomorrow to discover a thief in the night had robbed you of a portion of your possessions, you'd probably call , the police. You'd certainly know you'd been robbed. And yet you may not realize that you were robbed last night! You were robbed by inflation. But how did inflation rob you? Last night, the real value of your money shrank. Today it does not buy the goods and services it did yesterday. Just as if a thief had stolen your bankbook and taken some of the money out, your money now entitles you to less than it did before. You are poorer. Ironically, even the man who promoted the kind of government policies that cause inflation knew inflation for what it is: theft. In 1919, the British economist, John Maynard Keynes, wrote, "By a continuing process of inflation, governments can confiscate secretly and unobserved, an important part of the wealth of their citizens."

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Plain Truth Magazine

April 1980

Vol 45, No.4

ISSN 0032-0420