By Quin Hillyer on 3.4.11 @ 6:10AM

It’s time to start hiking interest rates.

[kpolls]

Just as the Fed did early in the previous decade, Fed Chairman Ben Bernanke is artificially keeping interest rates too low for too long, which could be baking hyper-inflation into the monetary cake while weakening the currency so much that numerous sources are predicting the dollar soon will no longer be the world’s “reserve” currency. If, as Milton Friedman said, “inflation is always and everywhere a monetary phenomenon,” then we’re in for trouble. In the year from January 2010 to January 2011, the M-1 grew by 10.3 percent and M-2 by 4.3 percent. The pace is increasing. In the three months since October, M-1 grew at annual rate of a whopping 15.6 percent. …

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