Out of their minds are the people that during the great depression said to the fed "your doing a good job, just keep shrinking the money supply everything will be great in a few years"
Greenscam was an "honest money" advocate early in his career. Once he went politico, he switched horses and became just another Powers thief.
The US economy wouldn't need contractions/deflation periods if the freakin' Gummint didn't create inflation. You should archive these posts. One day you can review and conclude, "how naive I was".
that is correct because people did not understand the implications of shrinking the supply. today people do not understand the implications of expanding the money supply. it is like taking drugs. there is the initial rush but then you need more of the drugs to have a rush. you increase the quantity till your body self destruct. in the financial case it is till the currency is inflated out of existence.
The point is, changing to a gold standard would produce a new great depression so its politically impossible to be made. As a result we have fiat money so might as well make it work. If the system is collapsing you ought do to have it takes to keep it running. In the case of the japanese it would be unconventional ways to produce some inflation. Yet the austrian types keep saying 'stop printing the money a big collapse is going to come and devastate the economy' but when you try their alternative THEN you do get the huge collpase anyway and they say its just 'an adjustment'
the name of the new currency which will replace most existing currencies will be called the DEY and will be supported by the old european bank families ( particularly the descendants of 15 th century milan bankers) this is the plan. they are working on it. these bankers have the power to succeed with their ambitions..
Daal,perhaps you should read up on the topics of Keynesian economic policies versus Austrian economic policies. Without getting into a dissertation on Keynesian economics, essentially the bastions of Keynesianism are increased regulation and control over monetary policy, money and credit creation and deficit spending. The Keynesians have never seen a deficit they didn't like. In a nutshell, Keynesianism affirmed the economic policies of the 1930's and created a justification for spending beyond one's means on a national scale. Sound familiar ?. The Austrian School takes a completely different view of economics, the major tenets being free market, low taxes, minimal regulation and a laissez-faire approach to monetary policy. A heavy emphasis is placed on the actions and nature of the individual. The Austrian School believes in the market as the driver of an economy, not the Central Bank or the government. Spending within one's means on both a personal and national scale is advocated Here is a website for the Austrian economic approach. www.mises.org Best to all.
dey stands for dollar, euro,yen/yuan. http://www.mises.org/freemarket_detail.asp?control=455&sortorder=articledate