Forum Post: The pin (interest rates) in the grenade (Banks, Securitzed Debt, Wall Street Schemers) that exploded the U.S. and World Economy Financial Bomb was interest rate manipulation. Please PHD level economists comment only.
Posted 12 years ago on Dec. 10, 2011, 5:57 p.m. EST by FedWallFedWellFedUP
(183)
This content is user submitted and not an official statement
The pin (interest rates) in the grenade (Banks, Securitzed Debt, Wall Street Schemers) that exploded the U.S. and World Economy Financial Bomb was interest rate manipulation. Please PHD level economists comment only.
You dont need a phd to understand this shit. The fact that you think you do just shows how dumb this country is.
I think what you are trying to say is that the problem is the value of money and in this sense you are correct. The issue of what backs fiat money is a very old conversation, one that needs a thorough debate. Many people believe we need to move back to a gold standard or a price rule or a monetary growth system that Milton Friedman espoused.
do explain...thanks for your input.
"I am myself persuaded, on the basis of extensive study of the historical evidence, that... the severity of each of the contractions - 1920-21, 1929-33, and 1937-38 - is directly attributable to acts of commission and omission by the Reserve authorities and would not have occurred under earlier monetary and banking arrangements." Milton Friedman