They can default, either outright or, if they have their own currencies, through inflation.

如果一国拥有自己的货币，该国就可以违约，既可以直接违约，也可通过通货膨胀隐形违约。

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There is a clear temptation for the West to extricate itself from the errors of the Greenspan asset bubble, the Brown credit bubble, and the EMU sovereign bubble by stealth default through inflation.

西方人有一种明显的倾向，希望通过通货膨胀造成的隐性违约，摆脱格林斯潘的资产泡沫、布朗信贷泡沫和欧洲货币联盟主权泡沫。

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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

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

To get around these roadblocks, the Fed lowers the cost of labor through inflation.

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Of course, American policies could hurry it up, in particular by trying to reduce the debt burden through inflation.

ECONOMIST: America��s debt crisis will be chronic, not acute

Particularly when the less painful way to reduce debt and the interest paid on that debt is through inflation via QE.

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