by Doug Casey
International Man
International Man: Recently, there have been whispers about the Fed raising its official inflation target above 2%.
But before we get into that, we should define our terms.
What is the proper way to think of inflation and the Fed itself?
Doug Casey: First of all, the word “inflation” should be viewed as a verb, not as a noun. Inflation is an increase in the amount of money. This is why Bitcoin—which may have other issues as a money—is inflation-proof; it’s a mathematical certainty that no more than 21 million will ever exist. There are absolutely no limits to the supply of fiat dollars, however.