" The only real means of defense against such a self-reinforcing cycle is to limit the number of dollars in circulation."

The author states that there is only one means to do this - by raising interest rates.

There are TWO other means:

1) decrease government spending

2) increase income taxes.

The 1986 Grace Commission Report comissioned by Ronald Reagan demonstrated that income taxes do not go to fund government operations but are delivered to the Fed to retire old bonds.

So the article is wrong in this respect.