So, Where's All The Hyperinflation?

You’ve seen the gold commercials. You’ve heard the commenters and prognosticators. They’ve told you (correctly) that the U.S. central banking system has increased the monetary base of the United States at a pace previously unheard of in our history. They’ve told you over and over again to brace for an imminent wave of high, even hyper, inflation. But it hasn’t come.