“This whole concept of infinite fiat is hard for people to grasp; it is something outside of their experience. People’s lifelong experience with money is that it is a limited resource. It is hard to conceive of a group of people who have unlimited, infinite money. Yet the Federal Reserve has just that. The Fed is not like a doctor who prescribes a short-term stimulus for a patient who is feeling run down. The Fed is not like a parent who temporarily puts training wheels on a bike until the kid learns how to ride it. These metaphors make people think that the Fed’s fiat printing is temporary and limited. It is not.”

http://charleshughsmith.blogspot.com/2013/07/what-every-student-in-america-needs-to.html

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