inflation is how you take money from the rich and give money to the poor: the rate sets the rate.
it is also how you take money from the poor, and keep them in control: it's its chief function. buying the poor is cheaper than continually having to suppress them.
"your gold and sliver have corroded, and their corrosion ... will eat your flesh like fire." james 5:3 . "inflation is taxation without legislation." milton friedman. forbes, december 30, 2016 page 114 (the last page.)
john jay @ 12.31.2016