Elsewhere, I have shown that Federal Reserve Bank Units (FRBUs), or if you like better, Federal Reserve Buying Units are what circulate goods and services in the U.S.A. and elsewhere on earth.

I have explained that as money is coined metal by weight and fineness and that money can exist without banking and government. You do not have money and never in your lifetime have you had money.

Today, there is only cash, which is evidence of past bank deposits circulating in perpetuity and checkable deposits, which, too, is bank credit.  Both cash and deposits must have banks and banking to exist. 

Many continue to accept the myth spread as a false meme that inflation means higher prices, that somehow prices cause inflation. Nothing could be sillier than to believe something could be the cause of itself.

The supposed most widely used measure of inflation fails to measure inflation precisely because the Consumer Price Index (CPI) measures prices and not inflation. The government tricksters at the Bureau of Labor Statistics who give you the CPI measure current inflated prices by a base of past inflated prices. 

Using data from the Federal Reserve and the Bureau of Economic Analysis, I have shown that prices have been falling for years even before deflation that has been underway since 2007.

Yet, if you have doubts of what I teach, read below a smattering of writing from a treasure trove of works I have at my disposal. All the writers say the same. 

Inflation is a rise of bank credit beyond trade needs. Inflation leads to the profit squeeze when the sum of sales on extant prices set by winning bidders is below the outlay for production. When many awaken to their lacking the means to pay bills, this leads to crisis and subsequent collapse of trade. This collapse all know as recession or depression.