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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: GST who wrote (53847)2/14/2006 4:59:27 PM
From: Mike Johnston  Read Replies (1) of 110194
 
Without rising money supply and credit there would be no persistent price increases in the economy, period, since there would not be increasing amounts of money to bid for goods and services.

The persistent price increases that you see everyday are a direct result of persistent increases in money supply and credit.
Prices do not start rising out of thin air, there must be a reason for it.
What you argue about is definition, but money supply expansion always comes first.

With money supply fixed to gold, prices were constant for at least 150 years before 1913.
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