Here is an excellent video on fiat currencies by my friend Dominic Frisby at Frisby’s Bulls and Bears.
[youtube https://www.youtube.com/watch?v=hx16a72j__8?rel=0]
Bear in mind we are in credit based economy, and credit markets can override the Fed’s ability to create inflation, assuming of course a definition of inflation that encompasses credit.
Please see Yes Virginia, U.S. Back in Deflation; Inflation Scare Ends; Hyperinflationists Wrong Twice Over for a discussion.
Mike “Mish” Shedlock
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