QE2: Debasement Of The Dollar An Abject Failure (Karl Denninger)
You got a 20% debasement (roughly) in the currency, a 20% increase in the stock market (net zero) but look at what went for a rocket ride.... just all the things you need to buy....
Denninger is right about so many things but is still a deflationist.
He fails to see that what is used for money makes a difference.
All great deflations have happened when gold is a countries official money.
When fiat currencies are used for money the deflation still happens against gold but the currency debasement will mean hyperinflation in the paper money.
The inflation is baked in the pie already and the money printing will not stop.
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Denninger is right about so many things but is still a deflationist.
He fails to see that what is used for money makes a difference.
All great deflations have happened when gold is a countries official money.
When fiat currencies are used for money the deflation still happens against gold but the currency debasement will mean hyperinflation in the paper money.
The inflation is baked in the pie already and the money printing will not stop.
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