Why don't we go back to the #gold standard? @stlouisfed http://t.co/6Reyyp3p8s pic.twitter.com/b6AdAdaUqU
— San Francisco Fed (@sffed) August 21, 2015
Price inflation via the Consumer Price Index over the last 30 years that was referenced by the SF Fed:
-RW
UPDATE
Has Price Inflation Really Been Stable in the U.S. Since 1985?
Ten Things Every Economist Should Know about the Gold Standard
ReplyDeletehttp://www.alt-m.org/2015/06/04/ten-things-every-economist-should-know-about-the-gold-standard-2/
As if price stability is the most important benefit of a proper gold standard. Accepting that even this hasn't been accomplished, price stability is not the most valuable benefit of gold:
ReplyDelete1) the best check on government
2) greatly reduces crony wealth transfers
Even better, a gold coin standard - no role for the government at all.
The Fed has done a good job of getting people to watch the wrong walnut (CPI). The other two walnuts are more costly to the common folk.
You plan on carrying around a bag of gold coins when you shop? You'll keep them in a bank and use checks. The banks will engage in fractional reserve banking and when they fail your coins will vanish. You'll be crying for govt then. You can be sure of that.
DeleteFractional reserve banking exists because government allows and encourages this fraud. Without government support, fractional reserve banking would have ended long ago. So, try again.
DeleteLMAO! I guess when you re-define low and consider stable as a consistent *increase* then you can say something so arrogant and ignorant like that.
ReplyDeleteThe CPI from 1933 to 1963 looks exactly the same. Inflation rate of 2.9%/year. http://i.imgur.com/aWo3iYr.jpg
ReplyDelete