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What Will Devaluation Mean To You?
Devaluation, or clipping the coinage, as the process was called in the days of the Robber Kings, is a subtle form of taxation. Like most other taxes, those imposed by this insidious method will be borne by the Forgotten Man.
READ MOREDismantling the Myth of Scandinavian Exceptionalism
The capital stock built in the 19th century allowed countries like Sweden to finance generous welfare states. Socialist sympathizers overlook this point and put the cart before the horse.
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