LETTER: Government just keeps printing gobs of money
We all know it’s the government printing wads of cash for programs that really causes inflation. But it’s good to blame others. Right now it’s the supply chain. In the past, it was steel prices. Then it was oil, especially Big Oil. Periodically it’s over-compensated CEOs and skewed income distribution or a housing bubble.
First the government tried hoarding gold to allow it to print more paper money. Then it simply said: OK, you can’t convert your paper money into gold or silver. Now we (the government) can print our way out of every problem. At some point this must come to an end.