CPI at 7%? Bet Your Reserve Dollar

Published February 24, 1989

Wall Street Journal

The “surprise” jump in producer and consumer price inflation is not a surprise when you understand the political and economic logic of using one nation’s domestic currency–the U.S. dollar–as international money.  Domestically oriented analysts have been fooled because U.S. inflation responds to the world-supply of dollars, not just those in the U.S.

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