Is the Fed the cause of inflation?

It's theft. There is nothing other to call it.

 

And yet up to the point Biden took over inflation was low - 2.5%. and explodes as Bidenomics wreaked havoc on the economy.

 

Your point?

 

My point is that inflating the money supply is theft.

 

Ok, fine.

 

The Left takes a very different view.

related thread: California proposes wealth tax that would follow residents even after they leave the state

 

If you think inflation is theft, then who is the thief and what is stolen from you?

 

1) The government. 2) The value of one's money.

 

So, you think they are stealing something that has no value to them. Inflation is a nominal phenomenon. You can't "steal" someone's 'value of money'. Being a nominal phenomenon, it requires nominal solutions, not real ones like price controls, or fiscal austerity. Either way saying "they're stealing from me" is nothing short of an emotional plea: 'they' are the thugs and you are the victim. Old liberal trick, which is now fully embraced by the pseudo-conservative movement.

 

Inflating the supply of money causes the price of money to fall. It's simple supply and demand. So yes, the value of everyone's cash holdings goes down.

 

You claimed they are "stealing" value of money, which is nonsense. Read my post again.

 

Yep, stealing 2% of the value of everyone's cash holdings. Every year.

 

You missed the part it's not really a secret?

Why does it have to be written into the constitution?

Is capitalism written into the constitution?

You know the federal government is not imposing inflation as law?

It's a target set for the best overall economic growth.
Mostly by economists. Controlled by a federal reserve.

 

Growth.

 

It needs to be written into the constitution to be legal. The constitution is a set of rules, and the rules give only a small set of legislative powers to congress. Creating a federal reserve bank is not among the powers granted. Hence, congress may not do it.

 

That's nonsensical.

 

The constitution gives congress a specific set of legislative powers. Can we agree on that?

 

Not sure.
The constitution is the frame work.

But economic growth is not a function of Congress or the constitution.

 

What, what? So we can't even agree that the constitution gives congress a specific set of legislative powers? What about article one, section eight? What's that about?

 

You're going off topic

 

Okay, feel free to continue the conversation here: http://www.politicalforum.com/index.php?threads/fiat-money-constitutional.613142/

And kudos to you for telling me that I've gone off topic in my own thread. Ballsy. Respect.