Comment: That is what the people in Cyprus said, also...

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SteveMT's picture

That is what the people in Cyprus said, also...

and Zimbabwe, and Argentina, and Weimar. If there is deflation, what will the printing presses do? Answer: the same thing that they will do if there is inflation, and that is print money. The reserve currency status of the dollar is the only thing that is keeping us above water. That, and the muzzle of a gun. In case you are having difficulty interpreting the latter phrase "the muzzle of a gun," it means our military currently at war with dozens of countries and threatening war with many others.