[quote=jstoesz]you can not answer that question for yourself? I am curious what you are looking for here.
If you have 3 times the monetary base chasing the same number of goods. You have a currency worth a third as much.
Obviously, it gets way more complicated than that on the ground especially when you consider all the deflationary pressures, but that is the basic logical barebones…
It seems to me that increasing the monetary base by 3X, can be hidden for only a short time…[/quote]
My point is that the monetary base is not chasing anything at the present time. The monetary base is an abstract number. You don’t have any milk-drinkers whose disposable income has gone up 3x as a result of changes in that abstract number.
If you were to talk about M2 per capita instead of the monetary base, I might agree with you (conditionally) … but M2 per capita has not tripled, it has only gone up 4% in two years.
Hence, the claim that the Fed has destroyed anyone’s purchasing power, or even caused inflation in the price of milk, remains unproven.
