FOR IMMEDIATE RELEASE
MELBOURNE, Australia – August 8, 2022: Inflation is theft.
“Inflation is a tax” – Ben Bernanke, 2008, Chairmen of the United States Federal Reserve replying to a question from Congressman Ron Paul.
If taxation is theft, inflation is one of the most insidious forms of theft by the government and banking system. Inflation, properly defined as the expansion of the monetary supply, is taxation by stealth. Every new unit of money transfers the value of existing money away. 
In a lecture in the 1960s, famed Austrian economist Ludwig Von Mises explained: “The problem is not to increase the quantity of money. The problem is to increase the quantity of those things which can be bought with money. And if you are increasing the quantity of money, and you are not increasing the quantity of things which can be bought with money, you are only increasing the prices which can be paid for them.”
When the quantity of money is increased, and with demand for money remaining the same, prices rise following the economic law of supply and demand. The visible effect is a reduction in the value of the currency measured in terms of purchasing power. As a result, everyone needs more money just to maintain the same standard of living.
The hardest hit by inflation are regular people, workers and the middle class. Workers find that their wages do not go as far, while big business, the banking cartel, and the elite classes are mostly insulated. 
Of course, politicians looking to dodge responsibility for their inflationary policies, deficit spending, and the interest-rate price-fixing of the banking cartel, will often blame “greedy businesses” or use opaque rhetoric such as “supply-chain issues”. However, it must be understood that when people are paying higher prices due to inflation, they are paying a tax. 
Taxation is theft. Inflation is an insidious form of theft.
The Libertarian Party of Australia advocates for:● ending the inflationary practice of deficit spending by governments;● abolishing the Reserve Bank and repealing all laws which create special privileges for banks, thus ending the present State-supported monopoly of the banking system;● repealing the State’s monopoly of the money supply and all legal tender laws to allow competition in currency; and● repealing all taxes, regulations, legislation and other barriers that apply to alternate currencies, including physical coins and cryptocurrency (i.e. Bitcoin).
The Libertarian Party is the party of principle, “No person or group of persons has the right to initiate the use of force, fraud or aggression against another person or group of persons.” 
Read the Libertarian Party’s Platform here: https://libertarianparty.org.au/platfom
Interested in learning more? Register your interest in the Libertarian Party at https://libertarianparty.org.au
ENDS