Responses (1)
in·iq·ui·tous
adjective
grossly unfair and morally wrong.
"an iniquitous tax"
google.com
There is endless disagreement about what "inflation" is. That is because the central bankers make the process as complicated as possible, specifically so citizens will not bother to try to understand it. But it basically is theft. First, honest money, in the form of metal coins, is abolished and replaced with something of no value, and laws are passed requiring people to accept the phony money at the same value as real money. For instance, gold is replaced with base metal and perhaps a gold colored wash on the surface of the coin. Or paper coupons are printed that say various things representing money. The government might even exchange the coupons for metal at the specified rate, as was true of US silver certificates until about 1960.
Inflation is then the act of printing paper money in excess of the amount of metal available to redeem it. This is counterfeit money, and it is an act of theft. But little can be done because the government is not going to prosecute itself and the citizens are very reluctant to rebel.
You can get more info on this general subject at mises.org/