Is high inflation the goal?

On one side many are insisting that Obama's spending is too timid. Krugman's consistent call for more spending is the most powerful. Even the Daily Kos, that trashed Krugman last year for not getting on the Obama Kool-Aid express, has come around.

One the other side is Peter Schiff. He says all this money conjuring will bring on hyperinflation. Link here.

Bernanke has declared war on deflation. I'd like to submit the possibility that high inflation is not seen as an economic problem by those in the Administration. High inflation is the goal. It is their solution. I think there will be an attempt to inflate our debt away. I am not an economist - I am inferring based on actions - and attempting to understand what the thinking is. The Fed has decided to print money. This would be fine if the money was going to be worth something. It won't be. At least not nearly as much as it is today. This policy has the potential to inflict unreal pain. Though that pain would be short lived in relative terms. A few years tops. However, in those few years the social disruption will be severe.

Money is being forced into the system. Eventually it will appear. But what will it be worth?