Ron Paul (in 2006)

When the Federal Reserve increases the supply of dollars in circulation, both paper and electronic, prices must rise eventually. What other result is possible? The supply of dollars has risen much faster than the supply of goods and services being chased by those dollars. Fed policy makers have more than doubled the money supply in less than ten years. While Treasury printing presses can print unlimited dollars, there are natural limits to economic growth. This flood of newly minted US currency can only increase consumer prices in the long term.