The Fed's Monetary Expansion Isn't Necessarily a Failure [View article]
Clever argument but it doesn't wash. Inflation can result from two causes: Inflating the supply of paper money ( like watering down the soup) and fractional reserves...loaning more than you actually have. Inflating the money supply wasn't necessary ( from their standpoint) back then because Roosevelt confiscated everyon'es gold ( without due process). But margin requirements were extremely low, until the Fed slammed on the brakes by suddenly tightening credit. End the Fed, restore gold and demand that the government abide by the Constitution.
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Clever argument but it doesn't wash. Inflation can result from two causes: Inflating the supply of paper money ( like watering down the soup) and fractional reserves...loaning more than you actually have. Inflating the money supply wasn't necessary ( from their standpoint) back then because Roosevelt confiscated everyon'es gold ( without due process). But margin requirements were extremely low, until the Fed slammed on the brakes by suddenly tightening credit.
Dec 01 16:02 pm
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All Comments by Vigilance »The Fed's Monetary Expansion Isn't Necessarily a Failure [View article]
End the Fed, restore gold and demand that the government abide by the Constitution.