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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 [...] the 95 years prior to the Federal Reserve beginning: What cost $1.00 in 1818 would cost $0.62 in 1913. Also, if you were to buy exactly the same products in 1913 and 1818, they would cost you $1.00 and $1.66 respectively. the 95 years after 1913 under Federal Reserve manipulation: What cost $1.00 [...] Interview with Peter Schiff on the economy, the Fed, much more. Nothing I need to say here except that… this is a man who really understands money and economies It’s MUST reading! Prices have not gone up, the value of the dollar keeps falling! e.g. by indexing gasoline prices for inflation, the price today should be $6.52, not about $3.50!. For more examples, see my post entitled Inflation. Thanks to free enterprise, gasoline and almost everything else is a bargain — it is the [...] The Federal Reserve seems a difficult critter to envision. It began back in 1913, created by the government as the bank to head all banks, yet not part of the government, but assigned to control the dollar and and the money supply. This puts “the Fed” even more difficult to control. So among the biggies [...] |
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