Bush appoints Bernake Chairmen of the Federal Reserve

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Why did you think Greenspan's predecessor sucked?


This does seem to be a good choice, although I wont be happy until the Federal Reserve is abolished [img]/images/graemlins/smile.gif[/img]

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I fenerally hate FYP's, but whateve.r

[lehighguy]

No relation to government spending.

Anyway, the 1982 recession was instigated on purpose to break the back of inflation. The tag team with Reagen's tax cuts helped soften the blow. We have seen lowering rates and inflation for 23 years as a result. This has been one of the main catalysts for the almost unhindered economic growth of the last two decades.

Volcker was immensely successful at achieving his goals.

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By the way, back in his rebellious youth, Greenspan advocated for a return to the gold standard. You can find his missive online, just google it.

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Here it is. Anyone interested in monetary police should definitely read this.

[tylerdurden]

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This does seem to be a good choice, although I wont be happy until we get a Chairman that advocate a return to the gold standard. [img]/images/graemlins/smile.gif[/img]

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Agreed. Or even better, a total free market in money.

[tylerdurden]

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The fed's main goal is to control inflation by means of monitary policy, so to say the new chairman would do that is nothing new.

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This is like saying "our goal is to control highway crashes by using government 18-wheelers to nudge old ladies (or other potentially bad drivers) off the road."

Eliminating inflation is easy. Stop fractional-reserve central banking and move to a 100% gold currency.

[FishHooks]

That doesn't eliminate or even control inflation at all....there would be huge fluctuations in prices. Actually the Fed's main goal is to control inflation, weather you think so or not.

[vulturesrow]

</font><blockquote><font class="small">En respuesta a:</font><hr />
The fed's main goal is to control inflation by means of monitary policy, so to say the new chairman would do that is nothing new.

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No offense meant, but you seem to be a little over your head here. Monetary policy can be effected in many different forms, a price rule being one particular way.

[FishHooks]

Monitary policy is a broad term, of course there are many things you can do with/and can affect monitary policy. Do you even know how the fed works/normally controlls the interest rate?

[vulturesrow]

</font><blockquote><font class="small">En respuesta a:</font><hr />
Monitary policy is a broad term, of course there are many things you can do with/and can affect monitary policy. Do you even know how the fed works/normally controlls the interest rate?

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Well I have a vague idea being that I got my degree in economics. Do you even know how to spell monetary?

[FishHooks]

It wasn't a yes or no question, explain your statement...