In connection with inflation the first 15 minutes are of particular interest. Note that not a single word is mentioned about the money supply, which for so many posters here seem to be an obsession as they tend to agree with Schiff' s definition of inflation, which is based upon the teachings of the Austrians.
"Mainstream economists (who hold sway in government, the corporate world, and academia) argued that as long as the labor market remained slack, inflation would not catch fire. My fellow Austrian economists and I loudly voiced the minority viewpoint that money printing is always inflationary-in fact, that it is the very definition of inflation."
