“‘Historically, there is no reason to fear deflation,’ Nobel Laureate Thomas Sargent explains to Germany’s Wiwo.de, ‘we all benefit from lower prices.’ That central banks pursue an inflation rate of around 2%, Sargent blasts, is because they consider it their job to ‘make bad debt good debt,’ adding that inflation is ‘a major redistribution machine – reducing the real debt burden for the benefit of creditors and devaluing the assets of the creditors.’ A return to a gold standard,he concludes, to prevent governments and central banks from limitless money-printing ‘would not be foolish.'”
Related posts:
Jon Stewart Destroys Fox News: 'Who Cares HOW We Avoided A War...'
Yemen: American Foreign Policy in Action
The New York Times Company Sells the Boston Globe at a 96% Loss
Why Using Bitcoin Could Make a Target-Style Data Breach Obsolete
Bullish at the Bottom: Why Now is the Time to Buy Commodities
Trump said Obama needed war authority from Congress. Will he ask for it now?
G. Edward Griffin on Bitcoin & The Federal Reserve
FOIA documents suggest IRS may have ignored court ruling on email privacy
Why I REALLY Moved to Puerto Rico, and You Should Too
NSA building a ‘quantum computer’ to break all forms of encryption
Chase “Glitch” Makes Customers’ Money Disappear
Police Crack Down On High Schoolers' Nerf Gun Battle
The Next Step in Killing Cancer
Price Inflation Watch: Average NYC Rent Passes $3,000
In Gem County, Idaho, It's a Crime to be a "Constitutionalist"