Europe's Dangerous Dream of Unlimited Money

``And that's not the only argument against the bazooka. When there is de facto unlimited money and artificially low interest rates, the threat of inflation rises. Even Christian Noyer, the head of central bank of France, a country that is pushing strongly for the bazooka, has conceded that large-scale bond purchases entail risks. "Large scale asset purchases are not without risks," he said in December. "Although they may help to eliminate upward pressure on interest rates in the short term, they will also affect price and financial stability in the medium run."''