Keynesian foolishness

J

J Craft

Active member
To all those Keynesian economist wonder boys out there. What is the cause of inflation, boom-bust cycles, fractional banking, central banking, etc etc..IMG_7031.jpeg.could it be a Federal Reserve, which by the way is a privately owned outfit printing paper money backed by nothing. No that's not it! It's those price gouging chicken farmers asking 10 bucks for a dozen eggs.
 
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J Craft said:
To all those Keynesian economist wonder boys out there. What is the cause of inflation, boom-bust cycles, fractional banking, central banking, etc etc...could it be a Federal Reserve, which by the way is a privately owned outfit printing paper money backed by nothing. No that's not it! It's those price gouging chicken farmers asking 10 bucks for a dozen eggs.
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The Federal Reserve had a 40 years success streak. Gold backed currency was regularly having huge inflation, and deflation cycles.
 
Walt said:
The Federal Reserve had a 40 years success streak. Gold backed currency was regularly having huge inflation, and deflation cycles.
Click to expand...
Nope. An ounce of gold is still an ounce of gold. Gold has neither deflated nor inflated.
A Federal Reserve Note was once worth 1/20th oz of gold (1 oz = $20). Gold is currently worth $2763/oz.

BTW, did you know the Federal Reserve is itself unconstitutional? So is the Federal Reserve Note they issue as money.
 
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