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What Is Money? Part 13: Exported Inflation
Gary North
Lew Rockwell.com
Saturday, Nov 7th, 2009
If you think people are confused about monetary affairs inside the borders of the nation they live in, you should listen to their explanations of money outside the country, beginning with the idea of “money outside the country.”
If you read the financial press, you will run across this phrase: “exported inflation.” We never hear the terms “imported deflation” or “exported deflation.”
Think about “exported inflation.” Except for Keynesians, most people see general price inflation as a bad thing. How is it that the free market leads to a situation in which something that is bad for the entire world takes place, and the sole beneficiary is the United States? Why isn’t a free market arrangement – international trade – beneficial for all parties?
My suggestion: let us look for something that is not free market or else stop talking about “exported inflation.”
PAPER DOLLARS
If someone hires an illegal immigrant – referred to these days as an “undocumented resident alien” – and pays him in cash, the immigrant may send some of this currency back home. He inserts paper money into an envelope, addresses it, sticks a stamp on it, and mails it to someone living in a foreign country. Paper money leaves the United States.
The person who receives this paper money probably does not report this to the tax collectors in her country. If she deposited it, she would have to report it, so she does not deposit it. She may not even have a bank account. So, she spends it.
“When the people find they can vote themselves money, that will herald the end of the republic.” – Fall Of The Republic – Buy the DVD here
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7 Responses to “What Is Money? Part 13: Exported Inflation”
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November 7th, 2009 at 4:30 am
a powerful film about jfk and the need for people to be true, very moving a little tear jerking , has a lot of great points and is a must see for freedom lovers http://www.youtube.com/watch?v=LUY7dl7X_vo
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IT'S ALL CONTROL AMERICA: Reply:
November 8th, 2009 at 9:29 pm
STOP LOOKING IN THE PAST AS THE SOCILIST & COMUNIST DESTROY YOUT GOVERNMENT AMERICA ! KEEP A VERY CLOSE EYE ON YOU GOVERNMENT NOW. THE SHELL GAME THAT THEY ARE PLAYING WILL EFFECT YOUR FAMILYS FOR YEAR TO COME.
STOP THE DOMO-RAT COMUNIST CONTROL OF YOUR GOVERNMENT NOW !
REMEMBER ANYONE HOW SUPPORT THE DEMO-RATS IS A TRATIOR TO AMEIRCA !
DRAIL THE COMUNIST EXPRESS AMERICA, VOTE THE BUMS OUT OF OFFICE AMERICA !!
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November 7th, 2009 at 10:54 am
When an illegal immigrant sends home money he uses a money order he doesn’t send home cash, drug dealers do that.
So when we talk about exporting inflation and it’s benefits we are really talking a bout the the benefits of drug money. Maybe that’s why we invaded Afghanistan after all the Taliban shut down opium production and we opened it right back up after we invaded.
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November 7th, 2009 at 4:30 pm
Happens with energy exports/imports as well. Russia exports natural gas for energy in exchange for European currency (gas/electricity bills). They have inflation running at 15%.
If our government gives foreign aid to African countries, then the dictators will spend some of it locally in their own country. That will cause inflation as well.
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November 8th, 2009 at 7:37 am
watch this short film about predictive programing, the lies in t.v and movies and how the lines of reality are bluried to brainwash people, chemtrails-h1n1-911-aliens-wizard of oz, must see it- the human revolution- http://www.youtube.com/watch?v=Pq9JcAzrJdM
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IT'S ALL CONTROL AMERICA: Reply:
November 8th, 2009 at 9:34 pm
GUYFOX:
WATCH THE CURRENT GOVERNMENT YOU HAVE IN WASHINGTON.D.C.
THESE PEOPLE SOCILIST COMUNIST ARE TAKING AWAY YOUR RIGHTS !
THE FOUNDING FATHER GAVE AMERICA THE WAY TO GO AND THESE SOCILIST COMUNIST ARE TURNIG THE SHIP AROUND INTO COMUNIST WATERS?
THIME TO KEEP A VERY CLOSE EYE ON YOUR GOVERNMENT GUYFOX !
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November 9th, 2009 at 5:57 am
We bombed the crap out of Asia. A powerful country going to war with a bunch of Asians. We sent troops in there, but I have never had anyone tell me why the war in the first place. Nobody knows why we went in Vietnam.
I believe it was just to kill people and get rid of old bombs and to make the soldiers actually do something. Today war is so not necessary. We have sanctions and boycotts.
When you bomb countries you kill people. You destroy their country. If Americans had their country bombed they would know what war is all about. You would think after the truth came out how we destroyed Germany and all the bullshit about Korea and agent orange and then the torture of the Arabs in jail you would think you couldn’t find one person to join the military. But the Israelis commit 9/11 and blame it on Arabs and all the poor soldiers who can’t find work sign up, but don’t have a clue they have been duped.
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