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Money Supply Growth and Inflation - How the Fed Goes Break?
Len Blum: By the end of this decade, I have considerable concerns regarding a financial spiral occurring in the United States and all the developed countries. A combination of high deficits, high debt and high interest rates on those steps will all work together to create structural inflation and money supply growth. But first, perhaps, Len, if you could paint some color on, what do you mean by structural inflation andmoney supply growth? And then perhaps we can sort of like unfold based on that.