Over that last 10 years, the United States Government and the Federal Reserve have turned up the printing presses, creating more money than ever in US history. They have touted that they have done this without creating massive inflation, which is a seeming impossibility. Part of this was a lie. Those who remember how much they paid for groceries or gasoline in 2007 compared to today can attest to that. A major way the government produced this trick was to change the way inflation is calculated in 2015. Consumer Price Index Undergoes Most Significant Change In 25 Years
Even with the change to hide the not so dangerous inflation, it appears that massive inflation may be on its way. Inflation hit a five year high in May of this year and appears poised to go higher. Federal Reserve Chairman Jerome Powell stated that conditions were similar to the beginning of the 1970s while talking to a group of international bankers. He stated that he believes that bankers can handle the situation, but who knows?
The only proven way to combat inflation is to limit the government's ability to create money. This is often done by attaching money to some commodity, like gold or silver. Although this can cause occasional short term problems, it stops the long term systemic problem of steady inflation. It also puts an end to acute periods of run away inflation.
A good source book for this post is "Honest Money" by Gary North PhD. While it takes a Christian position, it also offers one of the best non-technical descriptions about how the inflation scam works.
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