What was really going on? Many if not most mainstream stories focused on capital restrictions. There were plenty of published anecdotes about how wealthy Chinese billionaires were, by hook or by crook, trying to get their money out of the country while they still could. Analysts said that despite tighter scrutiny, the outflows were likely to remain strong for years to come, with companies and individuals looking for better investment opportunities while safeguarding their money against a weakening Chinese economy and a falling yuan currency. It was a sexy narrative, to be sure. And it never came close to the numbers involved. These ran into the hundreds of billions, and quarter after quarter.

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Inflation is not caused by the butcher, the baker, or the auto maker, although they usually get blamed. On the contrary, by producing real wealth, they fight the effects of inflation. Inflation is the work of government alone, since government alone controls the creation of currency. In a true free-market society, the only way a person or organization can legitimately obtain wealth is through production. In our world, however, the government can create currency at trivial cost, and spend it at full value in the marketplace. If taxation is the expropriation of wealth by force, then inflation is its expropriation by fraud. This has the widest possible implications, since money is much more than just a medium of exchange. Money is the means by which all other material goods are valued. And if enough money allows one to live life as one wishes, it represents freedom as well. It represents all the good things one hopes to have, do, and provide for others.
Dollar Destruction Potential: From China ‘Outflows’ To The FOMC Considering QE5
The world has suffered through a turbulent decade. The last 10 years have seen a financial panic in the United States that nearly brought down the global financial system. It was followed by the worst recession in more than 30 years; solvency crises that imperiled governments in the United States and Europe; a financial meltdown in Iceland; attacks on a succession of currencies, including the rupee and the euro; and hyperinflation in Zimbabwe and civil war—torn Syria. By , the Great Recession had passed. Yet while the fever may have spiked, unease lingers. Recovery in the United States and around the world has been feeble. Polls show that people are more politically polarized than they have been in decades.
Few topics are as misunderstood today as the subject of money. Since the U. Today's wrong-headed monetary policies are now setting the stage for a new global economic and social catastrophe that could rival the recent financial crisis and even the horrors of the s.