And they're doing a rip roaring job of it
Scary only to people who hoard large amounts of cash in their mattress.
On the gold standard we had 20% year to year swings, but they averaged out on the side of deflation. Businesses were frequently run out of business because of the unstable money. But if you were hoarding cash, you did okay.
Scary only to people who hoard large amounts of cash in their mattress.
On the gold standard we had 20% year to year swings, but they averaged out on the side of deflation. Businesses were frequently run out of business because of the unstable money. But if you were hoarding cash, you did okay.
That is what they call “stability”