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SPDR Gold Shares Message Board

  • yainvestor2 yainvestor2 Apr 28, 2008 11:02 AM Flag

    M3 up high. Ben's plan....

    But just in case you're still unmoved, Fed Chairman "Helicopter" Ben Bernanke himself is on record in the inflation/deflation debate. Can you guess which camp he's in?

    Like gold, U.S. dollars have value only to the extent that they are strictly limited in supply. But the U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost. By increasing the number of U.S. dollars in circulation, or even by credibly threatening to do so, the U.S. government can also reduce the value of a dollar in terms of goods and services, which is equivalent to raising the prices in dollars of those goods and services. We conclude that, under a paper-money system, a determined government can always generate higher spending and hence positive inflation.

 
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