I have wrote this before, but I will write it again. It comes from Thomas Payne in his pamphlet "Common Sense" that fired up Americans during the revolution.
Every country has two parts. One part is society. Society produces all necessary things to improve ones well being. The totality of their production is a prospering nation. The other part of every country is the State, or rulers. It produces nothing. It only takes away from society; survives by expropriating their production. The greater and more intrusive the State, the lesser is society free or prosperous.
Ludwig von Mises expounded on this very theme. He showed that intervention by the State and central planning would eventually be terminal.
--------------------------------
QE is backdoor theft.
By devaluing the currency, the purchasing power of your money is diminished. You no longer have the wealth that you had before. Who gets this wealth? The primary banks because they are the first to receive these new dollars. Ordinary people receive them later, if at all, after they are devalued through market forces. The Fed was created by the bankers for the bankers and at the expense of the people. So, QE is a way to prop up the mega banks paid for by ordinary people. Ron Paul is right. The Fed should be ended along with fractional reserve banking.
