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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: combjelly who wrote (750013)	10/30/2013 8:14:31 PM
From: RetiredNow	Read Replies (1) \| Respond to of 1577893

Those examples you gave were good ones and you are right about them being Keynesian. However, what I was talking about was Volcker's approach to monetary policy. I don't know if you know this, but I read about Volcker in a book and he said that one of the key indicators he watched was the gold value in dollars, to help determine whether interest rates should be raised. He was someone who was implementing a gold standard without a peg of the dollar to gold. That's why you say him raise rates so high when inflation went nuts. He was a big believer in stable currency and taming inflation. His tool of choice was interest rates. Stable money is a hallmark of Austrian economics. Gold is one way to achieve that, but not the only one.