Interviewed today by King World News, GoldMoney founder and GATA consultant James Turk emphasizes a point he often has made: that inflation is in large part a function of diminishing demand for currency as well as increasing supply.
The Federal Reserve's fourth quantitative easing announcement, Turk says, "may have been the tipping point because U.S. government debt purchases by the Fed have apparently switched from being bond-friendly to bond-bearish because of the hyperinflationary implications from turning government debt into currency. The evidence for this conclusion is that yields have been rising since then, notwithstanding continuing purchases by the Fed."
An excerpt from Turk's interview is posted at the King World News blog here:
http://kingworldnews.com/kingworldnews/KWN_Da...2013/2/12_Ja...
