The value of money changes through time because of inflation or deflation; yet, most of our debts are written in money terms.

货币的价值因时而异,那是因为存在通货膨胀和通货紧缩;,但是，我们大多数负债都以货币方式记录。

耶鲁公开课 - 金融市场课程节选

So war time periods were typically periods of great inflation and debasement of the currency.

所以，战争时期通常是,严重的通货膨胀,和货币改造的时期。

耶鲁公开课 - 金融市场课程节选

Then you'd have inflation because they're printing all this money.

然后通货膨胀就会发生,因为他们印制了所有的货币。

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