[gph1]

Increasing the money supply is not in and of itself inflationary, nor does it logically imply a depreciating exchange rate. This is true no matter how many times Austrians and confused monetarists say so.

[laughfactory]

I suppose we'll just have to agree to disagree on that.

[gph1]

I'd be delighted to revise or update my views in light of any evidence you could provide.