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Customer reviews

4.9 out of 5 stars
9

on 19 August 2013
Read this book - it has the ring of truth about it (does steady inflation linked to low interest rates sound familiar?). This book explains why it is Government policy to maintain these two states and why it is so dangerous for peoples wealth over a period of time.

Unfortunately - there is not too much the individual can do to avoid this hidden taxation. But I think Voters should understand what is being done to their savings/pensions (and why). Maybe they would then consider voting for a different approach if given an informed choice.
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on 25 July 2013
I like to think I have some idea of what inflation is and that the flip side of it eroding the level of government debt in real terms is that it also erodes personal wealth. I also sometimes think it would be nice to know more about why, for instance. 2% has been chosen as the magic number that many governments seem to target for inflation, or what is likely to happen when they try to unwind QE. But then I get put off by the thought of seeking answers in an economics text book that is about as exciting as watching paint dry.

If you're in the same boat, read this book. It's short, it's easy to read, it flows well, it doesn't treat the reader as an idiot, and yet it conveys a huge amount of information and pulls together the facets of debt, inflation and government policy in a coherent and satisfying way.

The assertion that inflation is deliberately used as a form of taxation in the UK (and elsewhere) in order to reduce its debt burdens is bold, and you may not necessarily agree with it (though the author supports his view with plenty of evidence), but even if you don't you can still learn a lot from this book.

Those, like me, who believe an understanding of history always helps will particularly enjoy the sections that deal with how present day government policy on debt and inflation came to be. And, as you might expect from an author with a market research background, the use of statistics and charts is excellent.
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on 28 September 2013
Cracking book, explains how we have all be had by governments of whatever, colour since 1945. Explains how the very wealthy and governments transfer wealth from the many to the few. British economy now built on a mountain of debt which can, in my opinion, never be re-paid and the British people have been suckered in to this.

If at all possible avoid debt at all cost.

The book is understandable by the layman and explains the history of Britain's decline - everyone should read this.
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on 20 July 2013
This book is a personal view which might have been titled "Everything a private investor needs to know about inflation'. It starts with a basic discussion of 'what is inflation' and moves on to deal in some detail with subjects such as 'why does inflation happen', 'how is inflation measured', 'why does the government have an interest in allowing inflation', 'how do I protect myself from inflation?' (Answer: 'with difficulty'!)

The central messages are that even lowish inflation erodes wealth rapidly and that the interests of savers / small private investors and the government are, (to put it mildly), imperfectly aligned.

The book is written in an easy, relaxed style and is pitched at a level which does not require prior knowledge of the subject. Trained economists and more sophisticated investors may find the sections on these subjects slightly basic (although they will almost certainly learn much from other sections). However for anyone who is concerned about inflation, or indeed who is inclined to think that 3-4% inflation is of no great concern, or who is too young to remember the 1970s in my view 'Inflation Tax' is essential reading.
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on 1 October 2014
This is a wonderful book. I think the Author makes a small mistake in suggesting inflation is not the result of increasing the money supply. The problem is in finding out how many tokens (money) are being created - money is only debt and any debt created by a central or commercial bank is money creation, not intermediation- whereas money lent out of savings does not increase the money supply. With fractional reserve banking , commercial banks have almost unlimited ability to create money out of thin air. The central banks have unlimited ability to do this and in Brazil they were able to create inflation of 2400%. The old concept of M1 and M2 etc. is no longer valid - a computer click can change a mortgage into cash in seconds.
Inflation taxation is the preferred and most unfair method of taxation and is now being used in all countries. The ECB does it despite it being illegal and the German courts have confirmed this. The politicians sit on their hands and hope the crash does not occur while they are in power.
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on 26 July 2013
Written with his usual clarity, and very well researched, the author 'lifts the lid' on how and why politicians are taxing you without consent. This is essential reading for anyone and everyone who works, saves, or just lives in this country.
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on 16 August 2013
A must read for everyone in the country. I would put it on the National Curriculum, and it should be required reading for every MP.
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this is the truth

everybody should read it

politicians should acknowledge its veracity

there are huge implications for investment and there should be capital gains tax on all houses and the abolition of stamp duty
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on 1 December 2014
Very interesting book, and useful in the current climate. Some of the political history was particularly interesting, and featured some things i didnt know about. Also very nice to read a uk centric view of the current economic situation. Thanks pete! I doubt that many politicians will take up the invitation to come clean though.
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