In its latest investor letter, Matterhorn Asset Management warns of a hyperinflationary depression worse than Japan's, as piles and piles of worthless paper collapse in on themselves.
Who do they blame for this predicament? The Fed, of course.
In this chart, they claim to back-measure the CPI going to 1800, and the point to take away is that while there were inflationary spells in the past, what really got the ball rolling was the creation of The Federal Reserve and the dissolution of the gold standard.
You see where on the chart the Fed was created, right?
Sunday, August 22, 2010
A Really Long View Of Inflation Shows That It's All The Fed's Fault
CHART OF THE DAY: A Really Long View Of Inflation Shows That It's All The Fed's Fault - Business Insider
at 12:58 PM