The real cause of the loss of dollar value is going from gold and silver certificates to Federal Reserve (bank) notes in their place.
That was done by our political leadership in Washington, not the Fed (although I’m sure they supported it).
kokoda
February 24, 2016 9:36 am
It is like having two sets of books.
The article lists the written/published line.
There is an actual, real line that is followed: For example, our Fractional Reserve Banking System automatically installs inflation into our economy. Thus, the Fed always pursues inflationary policies (until it gets out of control) and not to maintain ‘stable prices’.
Capn Mike
February 24, 2016 11:47 am
Caption to the portrait:
Greenspan to Ben: “I fart in your general direction!”.
polecat
February 24, 2016 1:08 pm
four carnival barkers in ill-fitting suits————
Administrator
Author
February 24, 2016 4:16 pm
“The fear of hard times leads to inflating the money supply and inflating the money supply eventually leads back to hard times.”
Ayn Rand
Kill Bill
February 24, 2016 6:29 pm
Looking at Greenspan this ditty came to mind:
Well, this crooked little man and his crooked little smile
Took his crooked sixpence and he walked a crooked mile
Bought some crooked nails and a crooked little bat
Tried to fix his roof with a rat-tat-tat-tat-tat.
The real cause of the loss of dollar value is going from gold and silver certificates to Federal Reserve (bank) notes in their place.
That was done by our political leadership in Washington, not the Fed (although I’m sure they supported it).
It is like having two sets of books.
The article lists the written/published line.
There is an actual, real line that is followed: For example, our Fractional Reserve Banking System automatically installs inflation into our economy. Thus, the Fed always pursues inflationary policies (until it gets out of control) and not to maintain ‘stable prices’.
Caption to the portrait:
Greenspan to Ben: “I fart in your general direction!”.
four carnival barkers in ill-fitting suits————
“The fear of hard times leads to inflating the money supply and inflating the money supply eventually leads back to hard times.”
Ayn Rand
Looking at Greenspan this ditty came to mind:
Well, this crooked little man and his crooked little smile
Took his crooked sixpence and he walked a crooked mile
Bought some crooked nails and a crooked little bat
Tried to fix his roof with a rat-tat-tat-tat-tat.