Thanks to Jeff Tucker (scroll down) at the Mises Blog for reminding us of this quote from Ben Bernanke, Bush’s pick to succeed the Maestro at the Fed: “The U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost. By increasing the number of U.S. dollars in circulation, or even by credibly threatening to do so, the U.S. government can also reduce the value of a dollar in terms of goods and services, which is equivalent to raising the prices … Continue reading New Fed Charmian favors positive inflation