Inflation is not a condition of imbalance between goods supply and money supply, for such imbalance cannot occur. Money cannot be issued without an exchange of goods and services, since it is not an entity apart from exchange but springs out of exchange, nor can it be issued unilaterally, since every issue of money requires the tender of it by a buyer and a tender of value by a seller. Hence the two sides are always synchronized and always in balance. Thus, if there were no spurious monetary units injected, the price level would remain constant, though, of course, individual commodities would rise and, reciprocally, others would fall, thus balancing the rises with the falls.