Jim’s Mailbox

Posted at 1:53 PM (CST) by & filed under Jim's Mailbox.

My CIGA Friends,

Debt is the very essence of fiat. As debt defaults, fiat is destroyed. This is where all these deflationists get their WRONG direction. Not seeing that hyperinflation is the process of saving debt at all costs, even buying it outright for cash. Deflation is impossible in today’s dollar terms because policy will allow the printing of cash, if necessary, to cover every last bit of debt and dumping it on your front lawn! Worthless dollars, of course, but no deflation in dollar terms!