He is admitting they just create it out of thin air (that is the way the Fed works), so no reason they can't create an amount approaching infinitely at a very large number. Of course they really can't create an infinite amount.
But they have no limit apparently . . . And this is what happens when you have an "infinite" amount of cash created out of thin air:
A loaf of bread can cost more than you could take to the store in a wheelbarrow. Get paid daily, run to make transactions on your lunch hour before your pay deflates to nothing.
" In 1914, before World War I, a loaf of bread in Germany cost the equivalent of 13 cents. Two years later it was 19 cents, and by 1919, after the war, that same loaf was 26 cents - doubling the prewar price in five years.
"Bad, yes -- but not alarming. But one year later a German loaf of bread cost $1.20. By mid-1922, it was $3.50. Just six months later, a loaf cost $700, and by the spring of 1923 it was $1,200. As of September, it cost $2 million to buy a loaf of bread. One month later, it cost $670 million, and the month after that $3 billion. Within weeks it was $100 billion, at which point the German mark completely collapsed."
He is admitting they just create it out of thin air (that is the way the Fed works), so no reason they can't create an amount approaching infinitely at a very large number. Of course they really can't create an infinite amount.
But they have no limit apparently . . . And this is what happens when you have an "infinite" amount of cash created out of thin air:
A loaf of bread can cost more than you could take to the store in a wheelbarrow. Get paid daily, run to make transactions on your lunch hour before your pay deflates to nothing.
" In 1914, before World War I, a loaf of bread in Germany cost the equivalent of 13 cents. Two years later it was 19 cents, and by 1919, after the war, that same loaf was 26 cents - doubling the prewar price in five years.
"Bad, yes -- but not alarming. But one year later a German loaf of bread cost $1.20. By mid-1922, it was $3.50. Just six months later, a loaf cost $700, and by the spring of 1923 it was $1,200. As of September, it cost $2 million to buy a loaf of bread. One month later, it cost $670 million, and the month after that $3 billion. Within weeks it was $100 billion, at which point the German mark completely collapsed."
https://www.businessinsider.com/hyperinflation-bread-costs-3b-2012-10