inflation defined  A Quote by Thomas Jefferson on inflation
defined, fiat money, tax, politics, stealing, injustice, fraud,
dollar, continental, money, inflation, and monetary system  It
will be asked how will the two masses of Continental and of
State money have cost the people of the United States seventy-
two millions of dollars, when they are to be redeemed now with
about six million? I answer that the difference, being sixty-six
millions, has been lost on the paper bills separately by the
successive holders of them. Every one, through whose hands a
bill passed, lost on that bill what it lost in value during the
time it was in his hands. This was a real tax on him; and in
this way the people of the United States actually contributed
those sixty-six millions of dollars during the war, and by a
mode of taxation the most oppressive of all because the most
unequal of all.  Thomas Jefferson (1743 - 1826)  Source:
Observations on the Article Etats-Unis Prepared for the
Encyclopedia, June 22, 1786, Vol. IV, p. 16