The Greenback Effect, by Warren Buffet

Thursday, August 20th, 2009 | Uncategorized

John Maynard Keynes long ago laid out a road map for political survival amid an economic disaster of just this sort: “By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens…. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.”

http://www.nytimes.com/2009/08/19/opinion/19buffett.html?pagewanted=1&ref=patrick.net

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