‘Inflate or die’ was Richard Russell’s characterization of our economic system and the central bank response to most problems during the past three decades.
INFLATE THE CURRENCY SUPPLY! Examine the currency supply as measured by M3 and reported by the St. Louis Fed.
Fiat currencies are created as debt. Inflating currency supply means increasing total debt. Global debt exceeds $200 trillion. Per the St. Louis Federal Reserve, total debt securities in the U. S. exceed $40 trillion.
This post was published at GoldSeek on Sunday, 6 August 2017.