The madness begins with credit. When people borrow money, whether for a home, a car or even daily expenses on a credit card, they believe they are using existing money. But banks do not lend existing savings. They create new money out of nothing when they issue loans. This newly created money enters society and dilutes the value of every unit that already exists. The result is simple: the more credit is created, the less each unit of money can buy. Prices rise, and we call this inflation, but it is really the loss of value caused by expansion...