Austrian Economics and the Great Depression

Discussion in 'Economics' started by Bestmiler, Feb 23, 2009.

  1. No bank or government can ever be trusted not to print too much. If you look back at history you'll find that it has happened over and over and over again until an economy eventually collapses.

    Even on the gold standard, who can be trusted to print just enough paper to back physical gold? Eventually, someone always fucks things up for everybody.
     
    #51     Mar 2, 2009
  2. gnome

    gnome

    Governments have always screwed with the money, even when on a gold standard.

    How do you stop them? Apparently they can't be stopped... because they can't resist the greed?

    The reason there are ridges on the edge of our coins is so that WE citizens can't "screw with the money". (There have been times in history when clipping or filing coins by citizens was punishable by death!. Serious punishment... so why does Gummint do it... IN SPADES... and get away with it?)

    Nevertheless, there would be no such panics if there were not bubbles (created by Gummint and bankers) to unwind and collapse.
     
    #52     Mar 2, 2009
  3. #53     Mar 2, 2009
  4. The constitution gives congress the power to issue money, however, congress has delegated this function to the fed. I think that If congress regains power over the issuance of money things will be better, although no perfect.

    As you well said govt always screw with money, but I think is worse when a few guys are given control over it. I rather give it to 435 elected guys.

     
    #54     Mar 2, 2009

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    #55     Mar 10, 2009