Abstract
This article discusses the debate about the nature of monetary inflation. It explores the emergence of the debate following the U.S. economic crisis that began in 2008. It notes the role of central banking and national currencies in the promotion of the debate. In addition, the article chronicles the role of monetary inflations in the rise and fall of nations in late-medieval Europe. The impact of the creation of the U.S. Federal Reserve System in the debate over money creation is also discussed.