[fortheDeclaration]

Yes, that is true, but on the other hand, the Fed does a better job of keeping the growth in the money supply within the appropriate range than simply leaving it to it devices.

The best 'device' is the market, which means, a gold based money supply not open to the manipulations of Government.

[Brilliant]

What do you mean “gold based?” You mean that the Fed can issue dollars only if it has an equal dollar amount of gold in Fort Knox? If so, we would be in perputual recession since that doesn’t grow very fast.