By Lee Friday, includes “… Preserve means to maintain something in its original state, and the only way to preserve the value of money is to keep inflation at 0 percent, not low and stable, as the BOC illogically claims. … if federal and provincial governments are unable to borrow existing money at market interest rates, they must either reduce their spending, or increase the level of visible taxes. And the latter option might disappear, because public resistance to higher visible taxes could force governments to reduce their profligate spending. Isn’t that how democracy is supposed to work?”
Read the full article on: Mises Institute