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

[Eugene Coyle <eugenecoyle@xxxxxxx>]

David Shemano sometimes says interesting and provocative things.  But I'm
sticking with William Jennings Bryan.

Gene Coyle



David Shemano wrote:

> 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?
>
> ---------------
>
> 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