Global Inflation Wave. Economists about economic crisis and Emperor Constantine's solution.

Christian Concepts Daily ^ | May 21st, 2012 | Dr Norman Bailey

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Confronted by multiple challenges in the wake of the global financial and economic crisis and having exhausted more traditional central bank levers which left interest rates at near zero, governments adopted a series of policies almost as a matter of course. Whether termed ‘credit easing’, ‘quantitative easing’ or ‘twisting’, these policies all have one thing in common – they increase the money supply... Further complicating the book keeping, some central banks, most significantly the U.S. Federal Reserve, are maintaining the policy of directly monetizing the federal debt. To be clear, debt monetization is not a result of the 2008-2009 crisis; it has been used for a number of years to help finance government deficit spending. (...) Emperor Constantine (306-337 AD), famous for his conversion to Christianity and for founding the city of Constantinople, was, in his time, probably at least as famous for his monetary reform...

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Economists argue that financial policies of some governments, including the United States',produce many unintended consequences.