Inconvenient Debt - Glenn Beck
“Look at this hockey stick…. Here’s where we were in September last year, but then the Treasury decided we need to start printing more money. This hockey stick should take your breath away. This is devaluing our money…. We have pumped all this money in and devalued our money. How is it not going to be worthless? This has never ever been done by anybody ever before.”
AMBNS, St. Louis Adjusted Monetary Base
The "Monetary Base" chart is a kind of snapshot that reveals just how much money has been created by the Federal Reserve in recent months. As of now, this money remains largely in Federal Reserve banks as deposits by commercial banks. We won't feel the inflationary effects of this new money until the commercial banks begin loaning it out and creating even larger increases in the money supply through the multiplying effects of fractional reserve banking.
Bottom line, the Fed's hockey stick chart reveals a huge (over $800 billion) and rapid buildup of our nation's money supply during the closing months of 2008, which threatens us with future rapid losses in the buying power of the dollar. -- more
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Sorry, George.
[Adds t.p. to grocery list -- while I can still afford it.]
To help visualize how screwed the dollar is the effects of rapid or hyperinflation, look at the World's Most Worthless Money.
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