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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: critical_mass who wrote (35702)7/11/2005 8:38:40 AM
From: Tommaso  Read Replies (1) of 110194
 
Thanks for the hard facts. I guess the increase in the money supply during and after WWI was made possible by fractional reserve banking and borrowing by the U. S. government. At that time anyone who wanted to could still get all the gold coins they care to own whenever they presented currency.

It is disturbing to see people (not you) posting completely inaccurate and prejudiced information. It is clear that a monetarist explanation of economics will always fail in some respects, but not even Paul Samuelson, who opposed Milton Friedman's views in many ways, is willing to dismiss monetarism altogether. "Monetary History of the United States" may have reached some incorrect or distorted conclusions, but it remains a classic study.

In recent years, the misguided efforts of the Federal Reserve to ward off imaginary evils, especially "Y2K," have created the bubbles that this thread is based on. The Fed has also changed the economic habits of a generation of U. S. citizens for the worse.
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