Comments by "Elazar de Lusignan M." (@Elazar40) on "'At What Point Will You Be Satisfied?': Ron Johnson Grills OMB Director On Biden's Projected Taxes" video.

  1. "Inflation," rising prices, is a direct reflection of a deflation in the purchasing power of saved labor and wages. Otherwise, "inflation" represents a loss of purchasing power of currency already in circulation. which is a massively obfuscated, hidden tax. Those at the bottom of the currency heap suffer most.
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  2. Falsehood is always a test for Truth. Truth, is the active component.
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  3.  @danmoore3660  While most often rising prices are defined as "inflation," simultaneously, this is represented by a deflation in the purchasing power of both wages and earned capital, not to mention pensions. Also, profit competes with labor. So inflation then - meaning an introduction of freshly printed currency and credit currency into circulation - results in more currency chasing the same raw materials, goods and services. The difference between real MONEY and a currency is, while MONEY is the value and more or less retains its purchasing power, a currency is simply a conveyance of a claim upon value that loses purchasing power. When silver dimes were in use, this was real MONEY and to this day retains a value equal to a cup of coffee in today's FED denominated Notes. Both Bitcoin and FED Notes are currencies, as was colonial scrip. The difference between FED Notes and colonial scrip is, while FED Notes are a Private interest bearing Currency, colonial scrip was a non-interest bearing public currency, whose supply was expanded and contracted based on the needs of trade and production. Honest weights and measures were set at the founding of the American republic, wherein a DOLLAR represented a quantity rather than a value. Properly understood, DOLLARS are minted - currencies are printed. Whereas the weight of a Note for a DOLLAR is approximately 1 gram, the bimetallic standard of an American DOLLAR is 371.25 grains of pure silver. So whereas an ounce of silver today requires approx 36.00 FED Notes which are called DOLLARS, a real DOLLAR of silver today in the years prior to decades of inflation would buy you 360 silver dime cups of coffee. So, `inflation' then - as well as interest on the national debt - eats away at the fundamental purchasing power of earned wages and savings. whereby those who labor most and too often make the least, suffer the most. As Lincoln proposed, labor is prior and superior to capital, because without labor there would never be any capital created. Basically, no matter how many steps removed or at which stage of production, labor creates capital, and thus deserves fair exchange. In the most basic sense, inflation - which is deflation - steals from labor. Cheap products from China maintain an illusion of purchasing power in the US whilst exploiting cheap labor in China, which can only have a dampening effect on American wages. To maintain the value of labor and wages in America, will take tariffs, just as it did during Lincoln's time.
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