Mr. Gross' calls for Helicopter money is based on an unstable economic rampart. The notion that increasing the money supply will some how cure "Deflation" is risible. First, one needs to determine the cause of the current plight. The current plight is caused by the notion that a Central Bank can accurately calculate the natural rate of interest. Since the natural rate of interest is based on the notion of the inter-temporal personal utility preference, it is impossible for any human to accurately calculate this ratio.
Since the Fed, or any Central Bank, can not accurately calculate the natural rate of interest, the economic price fixing game is played in the capital markets. This provides grounding for volatile swings in various capital markets.
Gross Calls for Helicopter Money: Legendary investor Bill Gross calls on the Fed to bring about Friedman's 'helicopter money.' The idea of helicopter money was introduced by Chicago school economist Milton Friedman in 1969.