with finance and investments.
Came across a little Keynesian wisdom which says essentially what I sometimes expound upon for hundreds of words: "There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The Process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
2 comments:
Did Keynes say that? Seems odd coming from the father of modern corporatist central planed economies. Then again Greenspan wrote of the necessity for a commodity backed dollar, all the while inflating our currency and never recanting his love of the Gold Standard.
Hi Scott
I don't remember what Keynes sajd about monetary policy, except that he realized during a depression, the government could print more money and it wouldn't help much because no one would borrow the available money and put it to work because folke didn't see much hope of making a profit on a venture.
That's why he said the government had to "prime the pump" with deficit spending to get things rolling again.
Re Greenspan vs Gold, he coined the phrase "that barbaric relic"
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