In the 1960s and 70s central banks around the world were inflating the currency.

在六十年代和七十年代，世界各地的中央银行,都在使货币上涨。

耶鲁公开课 - 金融市场课程节选

The member banks just as with the Bank of England when they're in trouble they are supposed to be able to borrow money from the central bank.

会员银行，就像英格兰银行的会员银行一样,当它们陷入困境时,它们可以向中央银行借入货币。

耶鲁公开课 - 金融市场课程节选

The currency is centralized at the European Central Bank.

货币在欧洲中央银行,被统一了。

耶鲁公开课 - 金融市场课程节选

Inflation is the most important thing according to many views because the Fed has to guarantee the soundness of the money supply -- and there have been so many cases in history when the central bank allowed debasement of the currency through inflation.

通货膨胀是最重要的事情,根据很多观点,因为美联储必须保证,货币供应的稳固,并且在历史上有太多的例子,当中央银行允许,通过通货膨胀改造货币。

耶鲁公开课 - 金融市场课程节选