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"It is natural when you are a debtor [nation] that you lean in the direction of inflation, because it makes paying it back so much easier."

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"In my view," says John H.Makin – a visiting scholar at the American Enterprise Institute writing in the Wall Street Journal – "the least bad option [in fixing the financial crisis] is for the Federal Reserve to print money to help stabilize housing prices and financial markets." "America is a country that owes money," agrees Philippa Malmgren, a former Bush advisor and now head of a risk consultancy in London. "It is natural when you are a debtor that you lean in the direction of inflation, because it makes paying it back so much easier." The logic is simple: inflate the number of Dollars in issue, and you'll shrink the real value of each outstanding Dollar you owe The Global Banking Crisis, 2008 "US money supply growth is running ...

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