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We're being duped, regarding money

Date published: 3/3/2013

We're being duped, regarding money

The American public is becoming more aware that for half the year they work for the government. About the first six months of any given year is spent making money that disappears into taxes before the worker gets his or her check.

Withholding this invisible tax money has, over the years, caused most citizens to forget just how much of a tax burden they really carry. This is not to even mention the daily sales, state, city, and other taxes that burden us.

Money today is increasingly mere electronic blips in a computer accessed by plastic cards at ATMs. There is nothing to back it up. Yet this illusory money is loaned at interest by great institutions. As the total amount of money grows, its worth decreases. This is called inflation, in effect a built-in tax on the use of money. And inflation can be manipulated upward or downward by those who control the flow of paper money or electronic blips.

We have been duped by the Fed and big banks. Ending the Fed would force big banks to clean up their act or fall by the wayside. Cut up all but one credit card.

Mary Lou Baker

Locust Grove