You’ve got the data, and the only sound conclusions to be had from it, Peter. I really wish you had a forum in which to debate Warsh, as you would leave him stammering like an idiot. Which, apparently, he is.
Is the Fed really just all politics, posturing, and self-enrichment? You’re right, Peter: abolish the Fed!
"Is the Fed really just all politics, posturing, and self-enrichment?"
Yes.
Historical trivia note: Before becoming Federal Reserve Chair Paul Volcker served as Undersecretary of the Treasury for International Monetary Affairs under President Nixon. In that capacity, he was the leading voice urging Nixon to suspend the dollar's convertability into gold in 1971, something he considered his crowning career achievement.
Much of America's vulnerability to hyperinflation in the 1970s arguably stemmed from that formal severing of the dollar from the gold standard. In a very real sense, Volcker was at least partially responsible for the hyperinflation he had to clean up in 1979.
Politics. Posturing. Self-enrichment.
Central banking is institutionalized currency debasement and nothing but.
Thank you
You’ve got the data, and the only sound conclusions to be had from it, Peter. I really wish you had a forum in which to debate Warsh, as you would leave him stammering like an idiot. Which, apparently, he is.
Is the Fed really just all politics, posturing, and self-enrichment? You’re right, Peter: abolish the Fed!
"Is the Fed really just all politics, posturing, and self-enrichment?"
Yes.
Historical trivia note: Before becoming Federal Reserve Chair Paul Volcker served as Undersecretary of the Treasury for International Monetary Affairs under President Nixon. In that capacity, he was the leading voice urging Nixon to suspend the dollar's convertability into gold in 1971, something he considered his crowning career achievement.
Much of America's vulnerability to hyperinflation in the 1970s arguably stemmed from that formal severing of the dollar from the gold standard. In a very real sense, Volcker was at least partially responsible for the hyperinflation he had to clean up in 1979.
Politics. Posturing. Self-enrichment.
Central banking is institutionalized currency debasement and nothing but.