The same set of commandments that forbid coveting and stealing also forbid idolatry. The sinner ends by exalting his sin over God. Again, no man can serve two masters. The sins of coveting and stealing may be recognized in such ancient practices as the clipping of coins and the abasing of metals. These early types of inflation have been succeeded by fiat money inflation.
Fiat money is unbacked paper currency.
In the United States, this agency is the Federal Reserve Board, working in conjunction with the Treasury Department. A paper currency will depreciate, unless it is convertible into specie. Today it is the civil government, backed by the power of the sword, that enjoys a monopoly on the issuing of paper currency. Exchange has thus become deceptive and coercive, rather than voluntary, in nature. Furthermore, by requiring that paper money be accepted for payment of debts, legal tender laws provide the essential element of coercion that upholds current inflationary policies.