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October 6, 2010 / Hal (GT)

Inflation to Make All Americans Billionaires By 2020


Laura Gross alerted me to this today.

Inflation to Make All Americans Billionaires By 2020

Go read.

Here’s a snippet:

One of the Federal Reserve’s original stated purposes was to manage the nation’s money supply through monetary policy that provides for stable prices without inflation or deflation. Shocking just about the whole world except for NIA members, the Federal Reserve this past week shifted its purpose from being an inflation fighter to now being an inflation advocate. Charles Evans, President of the Federal Reserve Bank of Chicago, is now saying that inflation in the U.S. is too low and the Federal Reserve needs to publicly declare a new goal of having inflation that is much higher than its informal 2% target. William Dudley, President of the New York Federal Reserve, is calling current low levels of U.S. inflation “a problem” because “it means slower nominal income growth”.

Meanwhile, ExactPrice, is showing gold and silver are continuing their climb. Right now, $1,348.90 and $23.17.

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