-Caveat Lector-
Lloyd Miller wrote:
>
>
> Just heard on the tube that the money supply is being expanded at greatly
> accelerated rates in recent few years, but is not causing _price_ inflation
> because of the freer-trade regime. The FED is now the engine of inflation
> for the entire world...the privileged coterie who get first use of this new
> FED credit are conquering the world by buying it up. Remember the news of
> Big Corps buying into Asia during their recent crisis. The whole world is
> now dependent on the US trade deficit. Apparently, this process can go on a
> long time until living standards start to approach equivalency around the
> world. Apparently, the cheap labor inflation sinks will be around for some
> time. Huge areas of Africa, South America, and Asia are still little
> touched by funny money development.
>
> Does anyone know where to find "money" supply statistics on the world wide
> web....I used to know before my last computer disk wipe-out in the Spring.
>
Inflation or deflation, that is the question. Whether tis nobler to
flood the world with cheap dollars or by withholding those dollars
plunge to world into a deflationary depression. According to Jude
Wanniski (www.polyconomics.com) the Fed's fear of inflation has caused
it to not expand the money supply rapidly enough and has caused the
Asian nations to go belly up for lack of dollars to repay their loans.
He warned of this deflationary trend a couple of years ago when gold
went below $380 per ounce. I believe it is now down around $300. He has
suggested that $350 was a good price to stabilize on. This would create
a quasi gold standard. The problem with the way things work now is that
the gold price goes up and down (in other words the real value of money
goes up and down). This causes the kind of problems that have happened
in Asia. There they planned on having enough money to pay back loans,
but with money getting tight, they could not. Bankruptcy, riots and
suicide resulted. (Also, because of this deflation, foreign goods are
even cheaper to buy in the US).
Howard Davis
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