Tuesday, November 6, 2012

Mase: A Policy of Credit Inflation

From John M. Mason's Euro Drops Below $1.30:

Since the early 1960s the United States government, both Republican and Democrat, has generally followed a policy of credit inflation that resulted in the United States going off the gold standard and then resulted in the secular decline in the value of the dollar since President Nixon floated the dollar’s price in August 1971...

To me, there the Obama administration has continued the policy of credit inflation carried on by his predecessors and perhaps even improved upon it.

Oh, yeah. And Mase is a banker.

Note well: John Mason says (and I agree) that the policy of credit inflation preceded and was the cause of the US going off the gold standard.

Related post: Policy Venn

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