Howdy!

On Tue, Jul 12, 2016 at 3:37 PM, Bruce  Johnson
<xxxxxx@pharmacy.arizona.edu> wrote:
>
>> On Jul 12, 2016, at 12:00 PM, Phil Pugliese (via tml list) <xxxxxx@simplelists.com> wrote:
>>
>> NorthKorea & Iran & (?) have been counterfeiting $100US for, literally, decades. In fact, years ago, my father showed me a newspaper article that stated that it was well known that anywhere from 1/3 - 1/2 of the US 100 dollar bills in circulation in parts of asia were counterfeit.
>
> The same holds true for other parts of the world as well, yet note: we’re not suffering hyperinflation as a result…Inflation is not merely a factor of currency supply.
>
In fact, with interest rates at the lower bound of zero, printing money has no
inflationary effect. Take note of the wild inflation over the past
eight years as
the US money supply tripled.

yours,
Michael

--
Michael Houghton  | Herveus d'Ormonde
xxxxxx@gmail.com        | White Wolf and the Phoenix
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