Troubled global economies fuel inflation fears by printing piles of money

As if Americans and people of other Western nations didn't have enough economic trouble, now comes new fears of rampant inflation with news that many of the world's largest central banks are trying to "create" wealth by "printing money like gangbusters," a noted analyst said this week.

Pimco founder Bill Gross, in an interview with CNBC, said the banks are printing "hundreds of billions" in currency and putting it all in circulation, which "can produce reflation and that's why we're seeing the pop in oil, gold" and other commodities, he said.

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