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21/09/23
09:09
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Originally posted by ProCapitalism:
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Get a dictionary from the 1960's or 1970's. I've got one! It states inflation is the expansion of the money supply. Get a dictionary from 1990's onwards & it states inflation is the increase of prices. The definition of the word "inflation" has been changed in order to hide the true causes of it, which is governments & global central banks printing money in a debt based, fiat currency system.
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The expansion of the money supply is a possible cause of inflation but as can be seen in the Japanese economy it is not the case. The velocity of money is major cause. IMO Australia's stimulas distribution was a problem that contributed to high inflation. Japan prints lots of money increasing the money supply however is distributed to a certain sectors of the economy.