Wednesday, April 30, 2008
"Someone please remind Mr. Makin that it is those of us who have saved money for years that he intends to rob to mollify the banking mob and the dumb people who bought houses that were priced beyond their reach. We have already suffered a good deal of inflation, far, far beyond the measly amount that the government admits to each year" Robert Reynolds letter to the WSJ, 21 April 2008.
"Mr. Makin's article needs a better title: 'From Weimar to Washington.' ... You say it can't happen here? Check the change in the dollar's value to the euro over the past year; it is already happening", Erich Kothe letter to the WSJ, 21 April 2008.
Apparently you can't fool all of the people all of the time, see my 18 April 2008 post. I like the term "banking mob". That's how I see it, the bankers screaming for inflation are a bunch of mobsters, demanding counterfeiting.
Dammit, Kothe, don't give Helicopter Ben any ideas. He might think the title "Weimar Ben" is a compliment, and imitate the Reichbank's 1922-23 actions.