Inflation: The Soviet Tool for Destroying Money

Inflation: The Soviet Tool for Destroying Money By Chris Calton In March 1919, the Communist Party headed by Vladimir Lenin stated in its newly drafted program that among the party objectives was the complete abolition of money. The State Bank of Russia would be “abolished and turned into the central bookkeeping office of the Communist society.”1 In theory, the ruling party could have simply decreed money out of existence, but this would fail to eliminate the circulation of currency throughout a vast country that the Bolsheviks did not fully control…

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Perfect Storm Brewing for Price Inflation

Perfect Storm Brewing for Price Inflation By Clint Siegner A “perfect storm” is brewing for Midwestern farmers. Unending rains have led to the flooding of tens of millions of acres of farmland. The deluge comes on the heels of years of low crop prices. It has the makings of an agriculture disaster on a scale never seen before. The nation may see a “perfect storm” in terms of food inflation. Prices for some farm commodities figure to be a lot higher in the months ahead as markets adjust to dramatically…

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Deluxe Supermarket Shopping: Guess Where?

Deluxe Supermarket Shopping: Guess Where? By Catherine J. Frompovich Where can one purchase some of the most epicurean delights, including craft beers and champagne? You probably are thinking some high-end grocery chain like Whole Foods or some place in Paris or Lyon, France, the gastronomical capital of the world. Well, I could not resist sharing with my readers this exceptional shopping experience taken by journalist Max Blumenthal in a well-stocked, no-bare-shelves-supermarket in Caracas, Venezuela. 6:20 minutes  https://www.rt.com/news/452158-blumenthal-venezuela-supermarket-shelves/  “There isn’t an issue here with food distribution or food scarcity,” Blumenthal…

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Because of Inflation, We’re Financing the Financiers — The Cantillon Effect

Because of Inflation, We’re Financing the Financiers — The Cantillon Effect By Jessica Schultz It may come as a surprise to you that the United States has been financing a welfare program that takes money from the poor and gives it to the rich. Inflation as a Policy Tool If you read a lot of modern macroeconomic literature or major in economics in college, you’ll hear economists talk of the “multiplier effect” of monetary and fiscal stimulus. In times of economic slump, money injection (for monetary policy) or government spending…

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