Letter: Watered down money leaves bad taste - East Valley Tribune: Opinion

Letter: Watered down money leaves bad taste

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Posted: Wednesday, May 23, 2012 4:54 pm

Beer, like everything else, is getting more expensive these days. So I thought I had the solution: add water! After all, the more beer, the better, right?

However, I realized that while the total amount of alcohol did not change, each 12 ounces lost taste, lost some of its value.

Same with the country’s money supply. When you water it down with a flood of worthless, unbacked paper dollars, you get more money in circulation but each dollar is thinned out and worth less. Merchants demand more of them just to keep up with the loss in value. This is the definition of inflation. It is why prices for gasoline and consumer goods are soaring. And what it does is place a sinister hidden tax on those least able to afford it: the poor. So, don’t complain to the oil companies for the rip-off prices. Demand that your government stop the wild printing presses and return to sanity and sound money.

Now that calls for a cool one!

PJ O’Malley

Mesa

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