Inflation-Targeting -- More Monetary Manipulation and Unending Inflation

The monetary central planners never stop thinking of new gimmics to manipulate the money supply, price inflation and interest rates.
Ben Bernanke has long been an advocate of what is called "Inflation-Targeting." The Fed would explicitly set a desired rate of price inflation and manipulate the money supply to hit the target.
See my new piece, "Inflation Targeting by the Fed Means Unending Inflation as Far as the Eye Can See."
The usual number suggested is a rate of 2 percent price inflation has measured by the Consumer Price Index (CPI). What this means is that the Fed would officially and publicly set a desired rate of continuous currency depreciation.
Even a 2 percent rate of price inflation as measure by the CPI means that in only 20 years prices will have gone up in general by 51 percent. And at the same time, the purchasing power of the dollar will have declined by 43 percent during these two decades.
Why build in a desire rate of price inflation? To permanently prevent any price deflation from every occurring. That is, the Fed Chairman defines any decline in prices as a "bad" that must be prevented at all costs.
This means, of course, that the American citizenry would be prevented from any real increase in purchasing power resulting from productivity and output increases that would normally register as more and better goods available as lower prices.
This is merely a variation on the same theme that Hayek and Mises criticized in the 1920s and 1930s, when the monetary central planners of that time tried to manipulate the money supply to stabilze the "price level."
Or course, Bernanke and others like him do not want the central bank to simply go on some type of price inflation-targeted "automatic pilot." Oh, no, Bernanke wants the Fed to retain the same type of discretionary policy options to manipulate inflation rates and interest rates that have helped generated the current economic crisis. As long as there is paper money, central banks, and monetary central planners we will never be free of the plague of booms and busts, and the distorting harm that always come in their wake.
Richard Ebeling.

This article was taken from the site of the Austrian school of von Mises, summarizing in a few words said while printing more money the central banks of countries, generating more inflation because what is being printed paper without any kind of support. It is well dangerous than the Fed would continue printing banknotes generated inflation and hyperinflation not only in America but around the world as most of world trade is in dollars and to be marketed in different countries with their local currencies would be importing inflation, the government sought to see how this move to the U.S. dollar as their currency, and this indeed is what they want the fallen. Let us ask God to help us

Este artículo fue tomado de la página de la escuela austriaca de Von Mises, resumiendo dice en pocas palabras mientras mas dinero impriman los bancos centrales de los paises, mas inflación genera porque lo que están imprimiendo es papel sin respaldo de ningun tipo. Es bien peligroso que la Fed siga imprimiendo billetes porque generaría inflación e hiperinflación no sólo en Estados Unidos, sino en el mundo entero ya que la mayoría del comercio mundial se hace en dólares y al ser comercializado en los diferentes países con sus monedas locales estaríamos importando inflación, los gobiernos al ver esto buscarían la forma de desplazar al dolar como moneda, y esto en efecto es lo que quieren los caídos. Pidamos que Dios nos ayude