Reply #89: Bill Bonner What’s Wrong With a Little Monetary Inflation?

[Demeter]

http://dailyreckoning.com/whats-wrong-with-a-little-monetary-inflation/

Colleague Porter Stansberry sent us this note:

The Justice Department is assembling a team to “root out any cases of fraud or manipulation” in oil markets that might be contributing to $4 a gallon-plus gasoline prices. Says OBAMA!: “We are going to make sure that no one is taking advantage of the American people for their own short-term gain.”

My bet is the “task force” won’t question Bernanke…

No, they won’t question Ben. That’s not their job. Their job is to find some poor schmuck and make him do the perp walk before the cameras. Maybe some guy who is speculating on oil futures. Or maybe a fellow who is running an oil company.

But let’s look at how this works.

The feds openly and explicitly try to cause inflation. No kidding. Ben Bernanke made it very clear. He was worried about falling prices…about deflation. He practically made his career as a deflation expert…claiming to be able to prevent it by dropping “money from helicopters,” if necessary...