
INSURANCE AGAINST MONEY PRINTING AND RECKLESS BORROWING MAY PAY OFF BIG
By Nigam Arora & Dr. Natasha Arora Prevailing Wisdom Nobody argues the following two facts: The Fed has printed trillions of dollars. The U. S. government is borrowing trillions of dollars. The prevailing wisdom is: Money printing by the Fed is a free lunch, i.e., the Fed can create money out of thin air with no consequences. The U. S. government borrowing trillions of dollars is also a free lunch because there is no need to pay it back in the foreseeable future. The Fed will manage to keep interest rates low for a very long time. The inflation that