Well, we're up for the Rebel capitalists, hope you're well.

So we're going to dive into some money printing

and hyper-inflation today.

Actually, let me start the video by answering this question.

When will the Fed's money printing and the government's

deficit spending create hyper-inflation? Well as far as the Fed's money printing

that answer the answer there would be never. Why?

Because the Fed doesn't print money. Or does it? I mean this is the debate back and forth and back and forth and

back and forth. So what we need to understand is how the Fed's balance sheet does

and does not impact M2.

Because when most people are talking about money printing,

they're talking about it in terms of will it impact inflation,

consumer price inflation.

And you guys know that the consumer price inflation

has been going down, going up.

It's just roller coaster ride. So if you want to predict what the prices are going to do,

when you've got to understand how many currency units are chasing goods and services?

So then the question becomes, okay, does the Fed's balance sheet impact the number of

currency units, let's just say M2, that are chasing goods and services.

And the answer is it depends.

But if you don't understand the nuance,

there's no way you're going to be able to predict the probabilities

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