Translations:Inflation/14/en

From TSL Encyclopedia

Given the Federal Reserve System and its absolute power over the nation’s money, the federal government, since 1913, must bear complete responsibility for any inflation. The banks cannot inflate on their own; any credit expansion can only take place with the support and acquiescence of the federal government and its Federal Reserve authorities. The banks are virtual pawns of the government, and have been since 1913.[1]

  1. Murray Rothbard, America’s Great Depression (Kansas City: Sheed and Ward, Inc., 1975), pp. 29, 33.