WHY did they DO that??

"Why did the founders include the following in the U.S. Constitution? -- "No State shall ... make any Thing but gold and silver Coin a Tender in Payment of Debts" --Article I, Section 10, Clause 1

Midwife?

Deflation is the midwife of hyperinflation. --Howard_Beale, Fri, 02/26/2010 - 19:53 #247566

Comeuppance?

There is no means of avoiding the final collapse of a boom brought about by credit expansion. --Ludwig von Mises, Human Action (pg 572)

Groundhog day a couple of weeks late - - -

On Thursday night, Feb. 18, the FED (Federal Reserve) unexpectedly raised interest rates a quarter point.

~"This is the FED's version of Groundhog Day. ...It saw it's shadow (inflation) and so it raised rates."  --Pimco's Bill Gross, CNBC, February 19, 2010, 08:45:19

Federal Reserve Operations Nut-shelled

"The Fed's "independence" means the banksters' freedom to take in $1 in deposits, set aside 3 cents in reserves, lend $1 at effective 33:1 leverage at a growth rate of 7-10%/yr. at a doubling time of 7-10 years, go broke once a decade, and have the US Treasury make them whole so they can do it all over again." --Hypocrite Bernanke and his Political Pandering; Bernanke Buys Votes

OOPS!

The economics profession has neglected to take human psychology into consideration. I've written a book, "Animal Spirits," to try to remedy that situation. --Yale economist and co-inventor of the Case-Shiller housing index Robert Shiller, CNBC, January 12, 2010, 09:53:39

The Technique of Inflation

"The technique of inflation demands that governments and their agencies shall continuously deceive the public about the fact, the speed and the duration of inflation intended. Ministers of finance have no option but to employ what has been called 'the necessary untruth'." Professor W.H. Hutt, quoted by Mogambo Guru, Cheaper to Freeze to Death, Oct. 23, 2007