Category: Federal Reserve, Gold & Precious Metals, Think Tank

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

6 Responses to “Bernanke Explains His Problem With The Gold Standard”

  1. [...] « Bernanke Explains His Problem With The Gold Standard [...]

  2. MayorQuimby says:

    Problem number ONE:

    “All central banks strive for low and stable inflation;most also try to promote stable growth in outputand employment”

    Monetary policy cannot create either growth or employment. Real world economic production, mining, innovation, technology etc DO.

    0% inflation should be his ONLY job.

    If we want growth – we need to build more things, export them etc.

  3. MayorQuimby says:

    Funny how he fails to mention the financial panics of 1929, 1970′s, 1987 and 2008 when listing panics as being the reason for the need for a lender of last resort.

    What propoganda bs!!!

    EXCESS CREDIT unbacked by real world production leads to credit crunches. Always has, always will.

    Guess what we have done for 20 years?!

  4. gman says:

    Those panics are less frequent and severe than the “golden era”…for nostalgia of the pre fed era..

  5. reedsch says:

    By inflation we mean an increase in money supply in excess of the increase in productive goods and services that money is a proxy for, no? Surely we are still talking about art here and not science, or maybe scientifically enhanced art, like using computers to make music and movies. I remember watching the hyperinflation in Mexico in the 80′s and wondering when the revolution would begin; it must have been that the poor had no cash, the rich had their wealth in assets or overseas, and the educated middle class had greenbacks or else became financially educated real quick. If there is a inflationary bias, is that not better than a deflationary bias? Better safe than sorry. At least until computers run everything and we can measure your daily input and output precisely.

  6. [...] quotes below were taken from Ben Bernanke’s slide presentation. We take issue with the [...]