Printing Money
- Richard Stokes
- 4 days ago
- 2 min read
Dear Australian Bishops
When a counterfeiter prints money, his free dollars dilute the dollars of the rest of society. His addition to the money supply means that more dollars are chasing the same number of goods. So prices go up, and with them rises inflation. People on a fixed income find themselves poorer because of this theft.
When caught, counterfeiters are punished for their crime. Our government provides laws that enforce this punishment.
But criminals are not the only people who print money (increase the money supply). Governments do it all the time, especially our present Australian government. The offence is the same, and the effects. Has anyone not noticed the significant rises in the costs of groceries, electricity, insurance and just about everything else?
The difference is that governments, doing the same action as counterfeiters, make sure that this is legal. What is a crime to an ordinary person is legitimate business to a government.
However, the act itself remains evil in its effect.
Now it could be argued that this might be legitimate in exceptional circumstances, such as in a time of war. But under normal conditions, it would seem to me to be outright theft, against the seventh commandment.
I have never heard an Australian bishop or priest speak out against this theft from ordinary people.
Perhaps this could be considered a matter outside the area of interest of bishops, and perhaps my understanding of economics is too limited. If so, I'd be grateful for an explanation.
Comments