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RE: RE: RE: Re: RE: Re: Re: gas

Mark Jones wrote:

----------------
You may have captured the MO but what about the motive? Is the Fed like a
Chinese emperor or a keynesian economist, sitting in a high place divorced
from reality and making decisions about money supply without any material
motivation or reason? Why did the Fed inflate money supply in the 1970s?

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Why does any government inflate the money supply?  Debasing the currency is
a favorite hobby for governments going back to the Romans and beyond.  Why
would the good old USA be any different?  Once Nixon severed the link to
gold in 1971, the money supply was at the complete mercy of the limited
wisdom of fallible human beings, and we got the monetary chaos we have
experienced for the past 30 years.

David Shemano
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