AGZ - Understanding The Inflation Problem

• Nearly all the commentary emanating from monetary policy makers, economists, and the media is misguided, believing inflation is rising prices and must be addressed accordingly.
• The solution to the inflation problem is not price controls, which are always counterproductive, but to return to a regime of sound money.
• A resolution of the inflation problem requires an understanding of inflation itself. It is an increase in the quantity of the media of exchange, whether it be money, currency, credit, or a combination of any or all of them.

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