“A government always finds itself obliged to resort to inflationary measures when it cannot negotiate loans and dare not levy taxes, because it has reason to fear that it will forfeit approval of the policy it is following if it reveals too soon the financial and general economic consequences of that policy. Thus inflation becomes the most important psychological resource of any economic policy whose consequences have to be concealed; and so in this sense it can be called an instrument of unpopular, that is, of antidemocratic policy, since by misleading public opinion it makes possible the continued existence of a system of government that would have no hope of the consent of the people if the circumstances were clearly laid before them. That is the political function of inflation. When governments do not think it necessary to accommodate their expenditure and arrogate to themselves the right of making up the deficit by issuing notes, their ideology is merely a disguised absolutism."
-Ludwig von Mises
(h/t Marc Faber)
-
In light of my previous post, here's what I'm thinking: buy some GLD $180 calls that expire 3/16/13. Right now, you can get them fo...
-
When it comes to understanding what's going on in the world -- and, by that, I mean the real facts and actual implications, rather than ...
-
I came across this really interesting chart regarding 2013 and 2014 EPS forecasts by region and globally. Note the very pronounced move fr...