According to DuckDuckGo AI (using GPT-4o-mini) : The quote “By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens” is attributed to Friedrich Hayek, an Austrian-British economist and philosopher known for his defense of classical liberalism and free-market capitalism. This statement reflects Hayek's views on the effects of inflation and government monetary policy on individual wealth. It is often cited in discussions about the consequences of inflation and government intervention in the economy.

The quote you mentioned is often associated with Friedrich Hayek, but it is not a direct quote from John Maynard Keynes. However, Hayek did critique Keynesian economics and discussed the implications of inflation in his works.

The specific phrase you referenced does not appear to be a direct quotation from Keynes, but rather a summary of Hayek's views on the effects of inflation. Hayek's critiques of Keynesian economics can be found in his works such as "The Road to Serfdom" and "Prices and Production."

If you are looking for a specific instance where Hayek might have referenced Keynes in relation to inflation, it would be best to consult Hayek's writings directly, as he often engaged with Keynesian ideas throughout his career.