[JasonC]

Sorry, I simply know Mises too well, and I've also had the argument at great length with e.g. posters at Mises.org. He maintained and they maintain, that without unbacked credit issuance, the trade cycle would not exist. This position is false, but it is their actual position - both Mises' own historically, and his present followers and supporters.

[AndyJackson]

I simply know Mises too well

I don't think you know them at all. Anyone who wants to check out how well you are representing the Austrian theory of the business cycle can go here. The Austrian Theory of the Trade Cycle