We live in an era of unparalleled confusion on monetary and economic issues. It’s almost like a shoot-out among the economists in the Old West, except that here you can’t tell the good guys from the bad guys. You read so many conflicting reports, editorials, and newsletters that it’s easy to get befuddled. There are those who say inflation, those who shout deflation. Some say print more money, others say halt the printing presses. There are those who say bail them out, and the others who say let them fail. There are those who say gold is going up to...