Steve Forbes after 9/11: "The Fed should keep this money hose on"

The Federal Reserve has admirably pumped significant liquidity into the economy, thereby easing the increasingly deadly deflation that we've been undergoing for at least three years.  But the benefits of this, other than avoiding immediate panic, won't be fully felt until the Fed publicly announces that this reliquidity is permanent, not temporary.  The dollar gold price, the most sensitive measure of monetary stability or instability, has moved from roughly $270 to $290 an ounce.  The Fed should keep this money hose on until the yellow metal reaches $300 to $325 an ounce.  Don't stop now, Alan.  You're almost there.

~ Steve Forbes, "Not There Yet," Forbes, October 15, 2001