Bill Bonner Letter April 2016
Say’s law tells us that money doesn’t really matter. “You buy products with products” is the vernacular expression. If you want to buy something, you have to produce something that you can trade for it. The “money” just greases the transaction.
If you “in ate” the currency, you are asking for trouble. Not merely because the additions to the money supply imply a reduction in the value of currency outstanding (inflation). But also because the additions to the money supply do not represent genuine increases in wealth that can be exchanged for other wealth. They are just a way of swindling the public.”