http://www.youtube.com/watch?v=gaS-vwZ77x8 6:02 Can anyone debunk this?

I know one person who can: www.youtube.com/watch?v=gaS-vwZ77x8#t=6m24s

Inflation doesn’t “grow” the economy, but it can yield, for most, a satisfactory redistribution of the ‘weights’ of the patterns. Meaning that more money will go to different places. Schiff is right when he says ‘legitimate growth’ or ‘production’ are limited in the U.S. due to the colossal amount …

I understand, yet it doesn’t really clarify why countries that threw away the gold standard did better. Sure, it might have changed consumption patterns but is that enough to increase overall performance?

Well, it does explain why inflationary countries got out of the depression quicker…They printed money; they increased velocity; they shifted patterns to a quicker “cycle” than they otherwise would have formed.

Keep in mind that the Depression went from Oct 1929 to Nov 1953 (24 years) when the Dow Jones finally reached its 1929 high. Consider how poorly that is when the USA created vast amounts of currency during WW2. Just out of interest, why do you define the depression in relation to the DJ as oppose…

It was a short term fix. Look at where we are now with fiat money.

My reasoning is two fold: The start of the Depression was a drop in the Dow Jones from its 1929 high not when the interventions of Hoover and FDR sent the markets down even further and completely disrupted the economy. If the drop identified the start then reaching that level should also signify …

There’s no doubt that the inter-war gold-standard was the primary cause of the great depression and abandoning it was the correct move. The problem, of course, is that what took its place turned out to be even worse.

Schiff is right when he says ‘legitimate growth’ or ‘production’ are limited in the U.S. due to the colossal amount of foreign produced goods consumed here (imports). So, should the citizens of San Diego stop importing much of their goods from other parts of the United States? Should people gradu…

Countries that abandoned the gold standard recovered faster during the Great Depression

Economics Economics Questions

John_James July 23, 2012, 8:08pm 9

The Earlier You Abandon The GOLD STANDARD and Start Your NEW DEAL, the Better

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Countries that abandoned the gold standard recovered faster during the Great Depression

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