Bitcoins and gold standard dollars -- was Re: Anyone want to make a housecall?

Levi Pearson levipearson at gmail.com
Mon Jun 3 00:36:12 MDT 2013


On Sun, Jun 2, 2013 at 10:54 PM, Russel Caldwell <caldr704 at gmail.com> wrote:
> On Sun, Jun 2, 2013 at 12:32 PM, S. Dale Morrey <sdalemorrey at gmail.com>wrote:
>
>>
>> The fed arose out of a series of financial crisis that the USA was
>> undergoing at the time.  It was authorized because of technocratic
>> thinking, that is to say the people of the day believed that the best way
>> to manage the money supply is to use people who manage money for others, to
>> manage it for us.
>>
>>
>>
> So, out of this we got an institution that has presided over the two worst
> recessions in this country's history.
>

The Fed acted poorly and more or less failed to avert the Great
Depression by *not* doing what it was supposed to do, perhaps out of
fear of inflation.  We know better now, and thus we have had a deep
and extended recession lately, but nothing as catastrophic as the
Great Depression.


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