The Wall Street Journal's Heard on the Street Column reports: "Eric Cantor, the Republican Whip in the House of Representatives, bought up to $15,000 in shares of ProShares Trust Ultrashort 20+ Year Treasury ETF last December, according to his 2009 financial disclosure statement. The exchange-traded fund takes a short position in long-dated government bonds. In effect, it is a bet against U.S. government bonds—and perhaps on inflation in the future."
The Constitution gives Congress the power to coin money and regulate its value, and "To borrow Money on the Credit of the United States." If Mr. Cantor doesn't trust the Democratic majority in Congress to execute these responsibilities, it's understandable -- neither do a lot of people. But if Mr. Cantor's Republicans win a majority and he still holds this short position as a member of the leadership in a Congressional majority, it'd be cause for concern. Not that Mr. Cantor would deliberately try to cause inflation to make himself a profit on his $15,000 in ETF shares, but just that you'd think he'd have some good information on the topic.