Ok, "part of". But you obviously missed my point. That the "part of" is in the "noise level" when it comes to inflation. So why mention it?
And comparing them to a "legal counterfeiter of money" is absurd. They are legally tasked with making real bills and coins. That would be like saying a painter who is making copies of his original painting is a "legal forger".
Can the Fed be described as a legal counterfeiter?
We would hope that taxation isn’t theft, but is, as Benjamin Franklin once said, the price we pay for civilization.
Yet to think taxes are never theft, but are always just, is a sin of blasphemy. It makes the state into God. Consider Jesus’ teaching on God and Caesar.
The Lutherans got into real trouble on deifying the state during Hitler’s rule over Germany. Yes, the Lutherans said, you could revolt against the Pope, but you must obey Hitler under penalty of mortal sin.
I should hope after the Nuremburg Trials nobody ever again says I was just following orders.
The state has the power to kill, 007, but must exercise that power with due process.
The state has other powers, including the power to print money. But, it can abuse those powers. I don’t think the U.S. government has ever so abused the power to print money as to commit a mortal sin. But, it has committed some venial sins with printing money.
Consider that inflation impoverishes those on fixed incomes, generally senior citizens, unable to return to the work force to make up their loss of purchasing power. Doesn’t that make inflation a particularly cruel form of tax?
And, when Joe Biden and Janet Yellen meet their maker, how good will their excuse be for impoverishing some of the most vulnerable members of society, that they thought the long-established laws of economics didn’t apply to them?
In their zest for certain do-gooding, as they saw it, they rationalized their violation of these long-established laws. Their response, just yesterday, is to call their political adversaries “liars.” This doesn’t sound humble or contrite.
The prophet Isaiah warned us. They have turned your silver into dross. We are living in corrupt times, with wicked rulers. In another part of this thread, I described the elections as our remedy for leaders that fail us. On the moral issue, more fundamentally, our country is in need of revival