Marc Faber on Buy Gold Before hyperinflation will eat up
Imagine a pie. That pie is total money in circulation, circulation defined as created by the Fed. Now imagine a smaller pie, and that is the amount of dollars in actual use, versus hoarded by the banks. As the circulation pie gets bigger, the dollars in use pie becomes a smaller percentage of the whole - that's why we are seeing price deflation. Because the banks aren't lending, the net effect is a shrinking of the money supply as dollars in use are measured both as a percentage of the pie.
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Marc Faber on Buy Gold Before hyperinflation will eat up
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