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Alasdair Macleod: The destruction of savings by inflation



February 20, 2012 by · Leave a Comment 

GATA

3:11p ET Sunday, February 19, 2012

Dear Friend of GATA and Gold:

Writing for GoldMoney, economist and former banker Alasdair Macleod explains today how interest on savings in the modern fiat money system is more than wiped out by inflation, that the resulting impoverishment of pensioners will impose far greater welfare costs on government than are understood now, and that savers would do far better under a “sound money” system. Macleod’s commentary is headlined “The Destruction of Savings by Inflation” and it’s posted at GoldMoney here:

http://www.goldmoney.com/gold-research/alasdair-macleod/the-destruction-…

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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