In regards to the pricing, consider that I will be bidding off a watch at an auction. From each based on his capacity to each based on his needs. You had the watch I needed. Marxism is that. In order to determine how much they can bid on the watch and other items up for auction, the bidders pull out their wallets and count the money they have. As a result, bidders can spin based on the amount of money in their wallets. Then picture your friendly neighborhood government bureaucrat entering through the back door in the middle of the auction. He has a large, full basket filled with Monopoly money in his hand. Each bidder receives a small portion of this monopolistic money. How do you anticipate the bidders’ reactions? They’ll exclaim that this is amazing as they used to just have €10 to spend, but now they have €20 to spend and utilize to place bids. You would say, “Whoa!” Hence, the population must now be twice as wealthy, correct? Oh no! Readers, this is not the right way to think. Why? Since all the other bidders have gotten larger sums of money, when the auction commences, the bids will utilize both the money that the government bureaucrat has given them and the €10 that they initially had. Given that the bidders have more cash in their wallets, do you believe the watch will sell for a higher price or for a cheaper, lower amount? Because of the rise in money supply, it will sell for, say, €100 instead of €50.

So, going back to inflation. The dictionary definition that we get about inflation, does not include or mention the Wage Price Spiral. Instead, it defines it as ‘a rapid increase in the supply of money.’ This money is then used to bid up wages and prices.

Dear readers, understand that the economy, which is so much at heart of our politicians, is a gigantic auction. You are the bidders and millions of different bids are made for different goods every single day. This all happens because of the Establishment’s definition of inflation, which truly is, the inflating or the increasing of the money supply. It does not mean ‘prices went up’ as the media or the tell-a-vision gives it to you.

Furthermore, the Establishment defines inflation as rising prices due to an increase in the money supply without a corresponding increase in the quantity of products produced. If these ideas about the biscuits and the auction are grasped, then the outcome is the wage price spiral, or what liberals refer to as inflation. Since the cause is expanding the money supply, it is not the cause. This is consistent with the beliefs of John Maynard Keynes, the Fabian socialist, who claimed that an increase in the money supply would boost the economy. Actually, it hasn’t helped the economy since we would all be wealthy if it had.

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