"It is our increase in the cost of capital that causes the inflation cycle. We do not labor or manage, and yet we receive the profits. Through our money manipulation, the capital that we supply industry costs us nothing. Through our national bank, the Federal Reserve, we extend book credit which we create from nothing to all local banks who are member banks. They in turn extend book credit to industry. Thus, we do more than God, for all of our wealth is created from nothing. You look shocked! Don't be! It's true, we actually do more than God. With this supposed capital we bring industry, management and labor into our debt, which debt only increases and is never liquidated. ... We are the necessary element since we expend nothing. Management can create its own capital and keep the cream - the profits. Its business would grow and profits increase."
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Original Language: English
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Sources
Walter White, Jr., The Hidden Tyranny: The Issue That Dwarfs All Other Issues (1978)
https://en.wikiquote.org/wiki/Inflation
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Inflation
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