(Prof St. Onge)—A key justification of the Fed — of Keynesian central banking — is that the way to make an economy grow is to print money. This is the “Philips Curve” — a tool that claims a trade-off between unemployment and inflation.
In that model, if you want economic growth, you print more money. If you printed too much and got inflation, you just print less. Typically by raising interest rates so banks create fewer loans.
The punchline, of course, is that central banks should print as much as possible, all the time. After all, if printing money creates prosperity, everybody wants prosperity. And then, when prices rise from all that printing, you just beg, borrow and steal to calm pesky voters down enough to get back to printing.
Of course, for non-Keynesian economists — Austrians and free marketers — it’s a lot simpler: money-printing is counterfeiting. And, like all counterfeiting, it steals from everybody else’s dollar, pouring water into the wine of their life savings. With a kicker for economic distortions — recessions — caused by how the new money was printed.
The “Inflation is Prosperity” Fallacy
The inflation-is-prosperity fallacy has been internalized by the ruling class. For example, whenever I advocate sound banking — where the bank actually has the money in the vault — I get attacked by Wall Street types complaining that if banks couldn’t counterfeit via fractional reserve, the economy would freeze up.
So where does it come from? Simple: it’s confusing activity and wealth. To illustrate, if Hunter Biden prints a million dollars and hits Vegas for the weekend, there will be a lot of very busy strippers. It’s be fantastic for the Las Vegas economy — tissue-fire level economic growth, an extra million in GDP in however many hours Hunter’s high lasts.
Of course, where did the money come from? It was siphoned from every other dollar holder. Diluted like water into wine. So grandma pays a little more for groceries, but at least Hunter had a hell of a weekend. Activity was created, wealth was not. And all that was left was the theft.
“Helicopter Money” and the Wallet Fairy
Now, there is a way around the theft, first proposed by Milton Friedman in 1969: “Helicopter Money.”
The idea is find some way to print money into the economy without distorting it. Milton used the image of a helicopter flying over the city dumping money.
Of course, even that distorts — if you happened to be walking on 2nd Avenue Thursday afternoon and the helicopter flew by you’re the new elite.So the closest government get is stimulus checks — which have the added bonus of buying votes.
Alas, even stimulus distort: the young and irresponsible spend fast — bubble tea sales take off and stripper work exra shifts. While the old and prudent save and get richer in future.
Fortunately, we have an elegant little thought experiment that we can test the whole idea whether printing money makes us rich: the Wallet Fairy.
This little critter sneaks in to every bedroom, bank vault, and payroll department across America on December 23 — the founding of the Fed — and draws an extra zero on the money.
So you went to bed with $10 in your pocket and wake up with $100. You laid down with $1,000 in the bank and woke up with $10,000. You went to bed making $12.50 as a customer associate at Best Buy, now you make $125.
Perfect helicopter money. So are we rich? Does the customer associate upgrade his house?
Of course not. Because everybody can see what happeend. Houses aren’t $400,000 any more, now they’re $4 million. Bubble teas are $50, rent is $15,000, strippers are too much. It would have absolutely zero impact.
We actually have proof from similar situations in countries that did the opposite, knocking zeros off the money. Mexico in the 1990’s, for example, lopped 3 zeros off the peso. So a dollar didn’t buy 3,000 pesos, now it only bought 3.
What happened? Nothing. Everybody adjusted overnight. A 5,000 peso coffee was now 5 pesos and nobody was dumb enough to think they got rich.
Unfortunately, in the real world, inflation is never so obvious as adding a zero or lopping off 3. In the real world inflation does, in fact, change things: Wages are slower to adjust than groceries, long-term contracts get effectively cancelled, pensions get gutted. Cantillon Effects divide every single person into winners and losers, draining those who have worked hard to build something of value, while rewarding those who did not.
Conclusion
Every inflation carries within a million human tragedies, a million dreams lost, a million life’s works squandered.
But the first step is understanding that printing money itself doesn’t create anything. Its one alleged benefit — the tissue fire — is a lie, an illusion that serves the politicians, bureaucrats, and lobbyists who, in reality, are aiming for the very redistribution inflation delivers.
Final point, the theft is only half the harm from money printing. Because, in reality, almost all new money comes in via asset markets, interest rate manipulation, and the privileging of bank credit over actual savings.
I’ll talk about these another week, but they are the source of our clockwork recessions — each delivering trillions in destroyed value and millions of jobless workers — of the permanent financial crashes that now stalk the American people, and of our exploding national debt.
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Starting the Day With a Scripture-Inspired Roast Helps Center Your Thoughts on Eternal Truths Amid Temporal Pressures
The world can seem chaotic, especially right after we wake up. Many believers start their mornings reaching for something familiar — a hot cup of coffee — yet end up settling for mediocre brews that do little more than deliver a caffeine jolt. The daily grind of life, with its endless distractions, news cycles, and responsibilities, can leave even the most faithful feeling spiritually parched alongside their physical fatigue. What if your morning ritual could do more than wake you up? What if it could ground you in truth, nourish your body with exceptional quality, and quietly advance a kingdom purpose at the same time?
That’s the promise — and the reality — behind Promised Grounds Coffee. This Christian-founded company doesn’t just roast beans; it approaches every step as an act of worship and discipleship. By selecting only the top 10% of specialty-grade beans, ethically sourced from dedicated farmers in Central and South America, and small-batch roasting them with reverence in Austin, Texas, Promised Grounds delivers what many describe as the best coffee available — never burnt, never bland, but rich with origin stories and layered flavors that honor God’s creation.
From the vibrant Psalm 27 Roast (a light, bright medium option) to the bold yet peaceful 2 Timothy 1:7 Decaf, each bag carries a Scripture verse that turns your daily pour into a gentle reminder of faith. And through their Ounce Per Ounce Promise, every ounce of coffee you enjoy provides an equal ounce of clean water to families in need via partnership with Filter of Hope — literally brewing hope for body and soul, one cup at a time.
The challenge for today’s Christians runs deeper than finding a decent cup. In an age of convenience-driven consumerism, it’s easy to support companies that dilute values or remain silent on matters of faith. Many believers want their everyday choices — from what they drink to how they spend — to reflect discipleship rather than just convenience. Promised Grounds solves this by weaving Christian excellence into the entire process: beans nurtured with prayerful stewardship by farming families, roasted as an offering rather than a commodity, and packaged with Bible verses to encourage a mindset of gratitude and purpose from the first sip. Reviewers consistently praise the smooth, rich profiles — whether enjoyed black in a drip maker, iced on a warm day, or shared in fellowship — noting how the quality stands toe-to-toe with premium secular brands while delivering something far more meaningful.
This integration of faith and flavor addresses a real need in Christian households and ministries. Busy parents, church leaders, and remote workers alike report that starting the day with a Scripture-inspired roast helps center their thoughts on eternal truths amid temporal pressures. The coffee’s exceptional character — bright citrus notes in lighter roasts or deep chocolate undertones in bolder ones — comes from meticulous selection and careful roasting that respects the bean’s natural gifts rather than masking them. It’s the kind of coffee that elevates a simple quiet time, fuels productive workdays, or sparks meaningful conversations when shared at Bible studies or outreach events. And because it’s ethically sourced with integrity, every purchase supports sustainable livelihoods for farmers who treat their crops like family harvests.
For those leading churches or small groups, the impact multiplies. Promised Grounds offers bundles and options perfect for hospitality ministries, turning ordinary coffee service into an opportunity to point people toward the living water of Christ. Imagine greeting visitors with a warm cup whose very bag carries God’s Word — a subtle yet powerful witness that aligns with the Great Commission. The company’s Texas roots and commitment to “brewing hope” resonate especially with believers who value American enterprise paired with global compassion.
Of course, quality alone isn’t enough if the experience feels out of reach. Promised Grounds keeps it accessible with practical perks like free shipping on orders over $40, sample sets for discovering favorites, and thoughtful add-ons such as faith-themed mugs. Whether you prefer whole beans for fresh grinding, grounds for convenience, or even bulk options for larger households and ministries, the result is consistently superior coffee that makes discipleship feel integrated rather than added on.
As you consider how to align even the smallest habits with your walk with God, Promised Grounds Coffee stands out as a refreshing solution. It tackles the dual problems of subpar daily sustenance and disconnected consumption by offering a product that genuinely excels in taste while advancing a mission of clean water, farmer dignity, and scriptural encouragement. Believers who make the switch often describe it as more than a beverage upgrade — it becomes part of their rhythm of gratitude, a daily invitation to remember that every good gift comes from above.
If you’re ready to transform your mornings (and perhaps your church gatherings) with coffee that honors both exceptional craftsmanship and Christian values, I encourage you to explore what Promised Grounds has to offer. One sip at a time, you’ll be nourishing your body, refreshing your spirit, and participating in something far greater — all while enjoying what truly is among the best coffee available.
