I am wary of Bernanke’s sudden change of heart on headline inflation. It confirms my suspicion shared by many readers that the Fed is deliberately bringing about inflation and currency debasement to cushion the effects of debt-deleveraging. This amounts to a soft default on America’s debts.
via The Fed is a Rogue Elephant wonkish rant – Ambrose Evans-Pritchard Telegraph Blogs.
I’m sorry, but it was obvious from the beginning – printing is cheating. So was all the fraud, accounting changes and wonky seolf regulation. There is no debate – just consequences.