"With gold being horded in Iran and hitting 2012 highs this morning, CNBC's Rick
Santelli addresses the 800lb gorilla in the Fed's room - the threat of
inflation. Critically noting that the hyperinflation of Weimar
Germany "did not happen overnight" but was gestated quietly until
it was unstoppable by currency debasement; the question remains of what exactly
the Fed thinks it is doing. Santelli makes the important point that if we look
at 'printing money' as any type of solution then why not take it to the extreme
- "if we just print a million dollars for every man, woman and child and
handed it to them, wouldn't that fix everything?" As he adds "if it was
that easy there would be no need for economist, no need for even CNBC,
but it isn't that easy," Reflecting on Evans' earlier
inability to quantify any metrics for whether QEternity was working,
Santelli notes that the Fed man falls back to 'confidence' (animal spirits) but
worries that inflation is a lot like soybeans; need sun, water, and time but
eventually will grow rapidly..."
at http://www.zerohedge.com/news/2012-10-01/santelli-qeternity-deflation-vacation-or-inflation-gestation
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