Henry Hazlitt said that to cure inflation, stop inflating, but surprisingly, most economists and politicians don’t want a cure. They believe a little inflation is not only good, but necessary. According to this view the real boogeyman is deflation—“a general decline in prices,” per Ben Bernanke—and government’s monopoly money-manager is dedicated to doing everything possible to keep prices forever rising.

Not everyone cherishes having their money driven into the abyss of worthlessness by the deliberate actions of others, but given its overwhelming fear of deflation, along with the profit for a connected few in counterfeiting, the Fed goes ahead and ruins our money anyway.