Sometimes a country will  experience only mild symptoms and sometimes more severe symptoms, like what happens with Covid. Now that the inflation virus has hit America, the mainstream media, along with public officials, are coming up with all sorts of remedies to address the problem.

This is all sheer nonsense, of course. There is one — and only one — entity that is responsible for inflating the money supply. That entity is the Federal Reserve. 

Let's put things in a larger context. When America's economic and political system was converted to a welfare state and, later, a national-security state, proponents of this new welfare-warfare state system knew that federal spending would begin to skyrocket. 

Ordinarily, that means higher taxes. That's the only way that the government can spend money. In order to get the money to spend, it must first take it from people in the form of taxes.

But public officials know that people get upset over having more and more of their income and savings taken from them in the form of taxes. So, public officials resort to borrowing, gradually going deeper and deeper into debt. 

But that debt ultimately has to be paid off. Enter the Federal Reserve. That's why it was created in 1913. Its creation set the stage for paying off federal debt with newly printed money. That's what the purpose of the Fed has been since its very beginning.

Imagine that you've personally spent so much money that you owe credit-card companies $250,000. Imagine that you've got a printing press in your house that enables you to print $100 bills. You just print up the $250,000 and use this newly printed money to pay off your debt. You then keep printing more money to enable you to keep spending to your heart's content. Wouldn't that be nice?