Louis R. Woodhill on the Dollar on NRO Financial

By Michael Bates on November 21, 2007 6:16 PM | Permalink | Comments (0) | TrackBacks (0)

National Review: Louis R. Woodhill: An Engineer Measures the Falling Dollar

"That is, the Fed creates money in response to demand for short-term capital. Given that one use for short-term capital is commodity speculation, and given that commodity speculation is one way to profit from inflation, the Fed is operating a system that is designed to respond to inflation by creating more money.

"Such a system exhibits 'positive feedback' (like a nuclear reactor) and is dangerous."

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Louis R. Woodhill on the Dollar on NRO Financial

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