Not to mention the eradication of the last radical elements of the labor movement and the murder of civil rights leaders.

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I don’t have any resources readily available that are easy. Capital, Vol II goes into how money markets interact with the capital circulation process but its extremely difficult and kind of old. I just recently saw a reddit that did do a good job of explaining it.

The problem is that two issues that it seems “common sense” to connect - currency supply and inflation - aren’t as relevant to each other as people think. It just sticks out sharply in peoples’ consciousness that in periods of hyperinflation (say early 1920s Germany oe Venezuela today) money and currency are heavily devalued and so the government response is typically to print larger currency denominations.

In a nutshell inflation is caused because capitalists decide to raise prices for whatever reason - typically because wages rise or the rate of interest fluctuates. The currency supply is controlled by the government, but the currency supply is not the same as the money supply. The currency supply is always a fraction of the money supply, as money can exist in forms other than physical currency.

The money supply is controlled by the banks, who generate, reduce, and issue money based off the demands of the money market and other factors such as inflation and interest rates. The Federal Reserve is essentially a cabal of public-private partnerships between federal and commercial banks that regulates the money and currency supplies, controls the federal interest rate, and attempts the keep inflation low (but not too low) at all costs.

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Thanks for this, very well explained

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