And if private banks continue their money printing ways, instead of a precipitous fall in the rate of monetary inflation we could be looking at a precipitous rise.

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You see, even if private banks cease their money printing activities, activities that are currently running at a robust year-over-year rate of 15.2% (see the first table), there is still a near certain swath of inflation to come.

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Either from increased borrowing, or increased taxes, which both take an equal amount of resources and spending out of the private economy as they finance increased government spending, or from printing more dollars, which just creates inflation (devaluing private spending by an equal amount).

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Whether they fund their waste through taxing, borrowing or printing, they smother the private sector.

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To the contrary, I believe that we have arrived at a point where money printing and government stimulus have replaced manufacturing and private sector productivity as the foundation of our economy.

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Members of the OAAA donated printing, materials and billboard space, while a private anonymous donor paid for the campaign's design, Golimowski said.

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As the economy accelerates, the risk of deflation recedes, private investment rises and the Fed is less likely to engage in further rounds of quantitative easing (printing money to buy bonds).

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