Historical dictionaries define inflation as expansion of money supply, not price increases; modern redefinition to 'rising prices' was government effort to shift blame from central banks to public.
factualpending
Speaker
Peter SchiffEvidence Quote
“If you go back to a Webster's dictionary, even as late as the 1970s, early 1980s, and you look up the word inflation, and it will say to expand, i.e., money supply”
Source
Opposing Views on the Role of Government and the Essence of Money (w/Michael Green & Peter Schiff)— Real VisionCreated: 8/10/2026, 10:45:57 PM
My Notes
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