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This idea we're going to run out. there's a real constraint. let's talk about $10 trillion coin. >> you cut her by 90%. >> so if we put that, obviously as stephanie put that out if we put it in the bank account there's no hyper inflation. where you would get a constraint the the government said let's spend $10 trillion on infrastructure projects. you have a real problem. there's not $10 trillion of real resources in the economy. you push this in the economy and get inflation and wages would surge, price of commodities would surge. there's your constraint. you hit the point where you're putting...

Government's ability with the reserve currency in the world, what is the constraint on our ability to just print money? that i think really gets the heart of the question we're talking about. >> so i think, you know, this week was the 100th birthday of richard nixon. richard nixon was the president who finally ultimately killed the gold standards. what hasn't died is the gold standard mentality that money is this commodity we can use up if we don't. that is a false constraint. there is a real constraint. let's talk about $10 trillion coin. >> you just cut her by 90%. >> let me just -- so if we...

Don't drive interest rates up and then begin the very healthy debate. that makes sense to me. let me challenge you on one or two things. speaker's speech wasn't yours. i don't want to hang that around your neck. he did say some things in there that are problematic to me as a matter of raw economics. he said government spending now is crowding out private sector investment. crowding out is a theory of when the government does things and drives interest rates up, the private sector can't borrow. that's simply false. interest rates are at historic lows. there is no crowding out. that was the pred...

You and i can see inflation, touch it, bacon up 16 percent. beef, 12 percent. coffee, 4 percent, and all fresh vegetables, ten percent. gains in prices just in the past year. that is inflation. come on. >> absolutely. and the price of cotton doubling, everything we wear will go up. and the scary thing, a lot of the manufacturers and food producers have in the passed along the increases. they will have to pass them along to you and i, and we have seen it a little bit but not to the extend that it will get to, if it gets higher it will crush the consumer. >> are you scared? >> i am scared. peopl...

Worried, and we are up 85 points or close on the big board, they do not seem too perplexed. >>guest: the inflation that bernanke ignores, is that big cloud that hangs over the market, in my mind. without that, things look good. the economy is still strong in america. but --. >>neil: that has not --. >>guest: people are ignoring it. everything will cost more, so that is less money for other products and it will but the a damper on this economy and could take the bull market and stop it immediately and we could see hyper inflation close to 7 percent or 8 percent and it will destroy the u.s. econ...