You know, Alex I’ve heard that theory before, from wildly divergent sources. One is a conspiracy theorist who thinks that the Pentagon blew up the WTC on 9/11 and the other is an author well trained in the classics and graduate of St. John’s college, whose intellect I respect.
However, it has never been explained to me why the Fed is bad, what precisely is so magical about gold, nor why America;s greatest economic expansion has happened under the Fed. If it had been nothing but depressions since 1913, I could see an argument. But, it hasn’t. We’ve had the Roaring 20′s, the great economic expansion of the 1950s, early 1960′s, and again the 1980′s, 90′s and then American greatest econimic growth from 2002 to 2007. In fact, America’s economy grew more after the Fed was created than before. Same with standard of living. So could someone explain to me, how the Fed is responsible for everything that goes wrong in the American economy?
