Elliott Parker
For the Nevada Appeal

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October 8, 2011
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Elliot Parker: Hyperinflation? Take a deep breath...

For several years, predictions about hyperinflation have pervaded the media. Yet consumer prices have only risen a total of 2.7 percent over the past three years, compared to 12.6 percent over the three years before, and 8.5 percent over the three years before that. Where is the hyperinflation, and why hasn't it shown up yet?

The Federal Reserve Act of 1913 created 12 regional banks, effectively owned by private member banks, plus a Board of Governors appointed by the president and confirmed by the Senate. This system has the power to create money by issuing credit in exchange for reserve …

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The Nevada Appeal Updated Nov 8, 2011 08:50PM Published Oct 8, 2011 09:40PM Copyright 2011 The Nevada Appeal. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.