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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: LLCF who wrote (28459)3/11/2005 9:02:14 PM
From: Elroy Jetson  Respond to of 110194
 
I think what you're saying is the debt run up was de facto inflation?

Yes, except that it's not permanent. When you reduce the debt, either through repayment or liquidation the inflation reverses.

On the other hand, "paying off the debt" with newly created money is simply a Monetary Tax. You literally still have your money, but a portion of its value was taken by the Monetarist Tax.
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