The U.S. money supply has multiplied 4 times from 2007 – 2010
Last year, the Federal Reserve increased the world’s wealth by $1.7 trillion. That’s a lot of money. What did it mean? Presto, the world was richer? Or if the world wasn’t richer, the extra money was a hoax, a fraud, and a scam, right?
Now counterfeiting is against the law. The counterfeiter creates money that looks just like the real stuff, but it has no gold or other backing behind it. The Fed likewise creates money that looks just like the real stuff. It has no gold or other backing behind it either. But by some magic, it’s okay when the Fed does it.
The Fed pulled another white rabbit out of its hat last Wednesday—a $600 billion mad hare. Stocks soared on Thursday. Commodities soared. Everything soared. Except the dollar.
Debt-tracker Prof. Laurence Kotlikoff at Boston University concludes that the money supply will have been multiplied 4 times since 2007!
[Excerpts of an article by Bill Bonner]