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To: Toddsterpatriot
We sure don't need to worry about that, Helicopter Ben knows all about printing more money!

"What has this got to do with monetary policy? 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. Of course, the U.S. government is not going to print money and distribute it willy-nilly (although as we will see later, there are practical policies that approximate this behavior)."

38 posted on 12/01/2005 11:21:12 AM PST by Travis McGee (--- www.EnemiesForeignAndDomestic.com ---)
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To: Ramius

See above. Looks like Helicopter Ben is another drunk talking about "fiat money" who needs a ride home from the bar.


39 posted on 12/01/2005 11:22:09 AM PST by Travis McGee (--- www.EnemiesForeignAndDomestic.com ---)
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To: Travis McGee
We sure don't need to worry about that, Helicopter Ben knows all about printing more money!

Perhaps you can give us the goldbug cure for deflation?

41 posted on 12/01/2005 11:24:42 AM PST by Toddsterpatriot (The Federal Reserve did not kill JFK. Greenspan was not on the grassy knoll.)
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