Who’s this we, in we experienced price swings? There were millions of ‘we’s’, many did not experience price swings.( who knows? No one, so, how can anyone make a true statement as to the conditions back then? Do you trust the then poor, biased, agenda history? I don’t. I’m not saying they are lying, just that economic, political, fincial stats in history are not clear enough to repeat often heard mantras. For example, FDR ‘saved us’ from the Depression. He did not. He, and Hoover and the Fed, made it worse.)
And further in a free market, what’s wrong with price swings? What, are you a price welfare socialist that thinks that the same people that brought you, for example, lovely public housing, stable housing, that many ‘we’s’ enjoy, that we all know is a crowning success( /sarcasm ) that the same central planning in state finance will also produce a smooth, mono-culture welfare finance state. Are you for the welfarization, the socialization of finance.
Your country. The USA.
You are free to choose what facts you wish to believe and those you wish to ignore. Price stability under the gold standard is a myth. If you think 5% inflation one year, followed by 5% deflation the next, is good for the economy, then more power to you.
I believe you and Ron Paul have an unfortunate and misguided understanding of history and the role of the Fed. JMHO, of course.