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Credit Bubble Bulletin/Doug Noland/4-11-2020
“There was a sordid process – rather than a specific date – for When Money Died. But it’s dead and buried. There are a few things that should remain sacrosanct. Money is absolutely one of them. Money is special. Sound Money is precious – to be coveted and safeguarded. As a stable and liquid store of value, Money is the bedrock of Capitalism, social cohesion and stable democracy. Society trusts Money – and with that trust comes great responsibility and risk.”
USAGOLD note: At one point, Noland refers to a question asked Jerome Powell following his speech April 9th from Brookings Institute’s David Wessel: “Is there any limit to how much money the Fed can create – how much it can lend – without having some unwelcomed side effects – like inflation or asset price Bubbles?” The first rule of holes comes to mind ……