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George Reisman Apr 13
Do not be surprised if, a year from now, prices are 20 percent or more higher than they are today and that tens of millions of elderly people on fixed incomes suffer greatly as a result.
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George Reisman Apr 13
Replying to @GGReisman
The recently enacted “stimulus” legislation costing $6.2 trillion can be paid for only by the printing of new and additional money in that amount, which will represent an increase in the M1 money supply to substantially more than double its present height.
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George Reisman Apr 13
Replying to @GGReisman
This amount of increase in the money supply is sufficient by itself to double or more than double prices and totally destroy the finances of the elderly, if not by next year, then over the next few years.
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George Reisman Apr 13
Replying to @GGReisman
With today’s mentality of bottomless economic ignorance and reckless irresponsibility, the plight of the elderly will likely be met by still more “stimulus.”
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George Reisman Apr 13
Replying to @GGReisman
We are in process of destroying the dollar.
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George Reisman Apr 13
Replying to @GGReisman
The long-run solution is to deprive the government of the power to create money, which can be accomplished by restoring the gold standard and requiring that the issuance of new and additional paper money be limited by the increase in the supply of gold.
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George Reisman Apr 13
Replying to @GGReisman
The immediate solution is to go back to work and end the seeming need for trillions of additional paper dollars, the consequences of which will be worse than any the Coronavirus could produce.
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George Reisman Apr 13
Replying to @GGReisman
The lockdowns are in violation of The First Amendment’s prohibition of laws in violation of the freedoms of religion and of assembly. They are also in violation of the Ninth Amendment’s implicit recognition of the right to work.
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George Reisman Apr 13
Replying to @GGReisman
Organizing should be started on a million-man march on Washington to demand the end of lockdowns and the government’s ability to create limitless quantities of paper money.
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George Reisman Apr 13
Replying to @GGReisman
Let all who are at risk from the Coronavirus take precautions. But do not consider as a precaution the destruction of money and the economic system.
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George Reisman
We must not allow trillions to become the new billions, and then the new millions, and the paper dollar to become the new toilet paper.
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