Quote from: unk on June 26, 2011, 03:56:48 PM

i can't read the mind of the central bankers in a foreign country.

While this evasive response might apply to my 1st question, it certainly doesn't apply to the 2nd or 3rd. You claim that inflation's negative effects are minimal, but refuse to examine how inflation occurs in practice. All you see is the observed result, and judge it to be not so bad, but you cannot pretend to know what the current result would have been had the Fed not inflated the currency over the last century. Such a determination requires a more thorough analysis of how inflation occurs in practice, at the individual level.