gold, page-770

Yes, very much looking forward to Rickards' next combover!
The definition of inflation is expansion of the money supply. Most people seem to think the word refers to inflation of prices, which, in theory, should follow expansion of money supply.
So, why haven't prices risen as a result of inflation ( monetary expansion)? Simple, in times of widespread unemployment and underemployment, people stop spending on non-essentials.

But all that QE money went somewhere, and did massively raise prices. Look no further than the stock markets.
And that should tell us all we need to know about how the TBTF banks have employed the QE monies.
23.