Quote:
|
Originally Posted by Mavdog
as "fiat currency" is a rather modern concept, it is difficult to endorse your generalization that they "fail badly within one hundered years of inception".
|
The chinese had a fiat currency over 1,000 years ago.
You can point to just about any country in Europe or Africa and find a couple of examples of a fiat currency gone haywire. The notion that fiat currencies fail badly, and in relatively short order, is not a difficult thing to endorse.
Quote:
|
you should look at the m1 supply over the last decade or so. it's pretty flat, which says 1) the feds aren't really expanding the supply, and 2) inflation exists even with a static supply level.
|
instead of looking at one component, why not look at the aggregate money supply? M2 has increased by 55% since January, 2000.
Quote:
|
so, to summarize, our federal reserve is pretty darn smart about these things, the federal board of govs have done well and should be commended, and ron paul and other bryanians are making much ado about nothing.
|
to summarize....you're wrong on the most basic facts regarding money supply in the US.