Currency Inflation as Fraud

A reader asks:

“Does inflation count as fraud and theft?”

The elements of fraud are: (1) A false representation of a matter of
fact—whether by words or by conduct, by false or misleading allegations,
or by concealment of what should have been disclosed— (2) that deceives
and is intended to deceive another so (3) that he relies  upon it (4)
to his legal injury.

In the case of an inflated currency, the concealed fact is the
diminution of value transferred from creditor to debtor or to the state
patron; the deception is that the diminution is deliberate, not caused
by some impersonal Keynesian mechanism of the market, nor by the greed
of business, but by and only by the tireless printing presses of the
state; any creditor who uses the currency rather than gold or barter a
fortiori relies on the currency to store value; the injury is the
transfer, without the consent of the creditor, of his value or
purchasing power to the debtor or to the state patron.

Read more