[AndyJackson]

Banks can create rampant inflation all on their lonesome without so much as a "by your leave" from the Fed. In fact, the Fed restricts them from doing so by its regulation of their balance sheets.

Make up your mind. Which is it?

[JasonC]

They can without government intervention, they don't, because they are regulated by the Fed. If the Fed did not exist, they could increase the size of their balance sheets at will. They would run risks it doing so, certainly, but they are more restricted because the Fed exists, than they would be if it did not.

I point this out because you pretended that the banks are free to do whatever they want and you won't care, until the government steps in and helps them do something. Supposedly on libertarian anti-government principle, I suppose. The fact is, everything you denounce the Fed for supposedly helping the banks do, they could do even more if the Fed did not exist.

The incoherence is in your own position. You say on the one hand you dislike the banks inflating, and on the other hand that they can do whatever they please as long as the government stays out of it. Um, unless the government gets smack into it and in a big way, they can inflate.