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I received this in an email and found some food for thought. I think others may too. BODY OF EMAIL TEXT The numbers I checked out are okay except I can’t verify the $1 Billion to run the program. I suspect that is way off base. There was an article that said [...] WHICH FLATION WILL GET US? from garynorth.com Date 9/8/2009 Issue 109 One of them will. That’s if things work out really well. Two or three will if things go according to the Austrian theory of the business cycle. Americans have been living in the eye of the monetary hurricane. [...] There Will Be (Hyper)Inflation by Thorsten Polleit. Increasing “Excess Reserves” The demise of fiat-money regimes around the world has become unmistakable. They can only be kept alive by central banks creating ever-greater amounts of base money and governments underwriting commercial banks’ liabilities. The US Federal Reserve, for instance, increased the stock of the monetary base [...] This webpage is copied in full from fee.org. It is a fine expression which applies to the economic collapse of today. http://www.fee.org/in_brief/default.asp?id=2396&year=2008&month=10 October 10, 2008 by Sheldon Richman Sheldon Richman is the editor of The Freeman and “In brief,” and a contributor to The Concise Encyclopedia of Economics. TGIF appears Fridays. Comments welcome.
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