From Capital & Conflict (GBR) – “Inflate or die,” the great Richard Russell used to say. He meant that central banks committed to “fighting deflation” and confronted with massive debts in the economy had but one choice: crank up the press. Fund manager Bill Gross agrees. But he’s arguing for the airborne printing press (“helicopter money”). This is the “endgame” theme John Stepek suggested for this year’s conference on 3 October. The central bank Ponzi scheme of passing the buck either ends in disaster or success.