GR-NEAM Reflections: April 2011 - Earthquake Now, Windstorm Later

Thanks to Matt for passing this along.

The devastation caused by the earthquake and tsunami in Japan have little or nothing in the way of precedent. Like other crises, however, the response of the monetary authorities is appropriate but is typical of a system with no anchor for the value of money. An example from history shows why today’s monetary systems remain prone to a return of inflation.