You say "in direct contradiction to the last 80 years of economic thought", but we have not been off of gold and on fiat for that long, more like 40 years IIRC.
Even the swiss franc was pegged to gold until 2000. The Fed is getting pretty limited to what it can do by lowering rates.
With only 6% more unemployment, we would be at 1870s levels (completely unmanageable)?
Calling it counterfeiting is a bit extreme, though.
Even the swiss franc was pegged to gold until 2000. The Fed is getting pretty limited to what it can do by lowering rates.
With only 6% more unemployment, we would be at 1870s levels (completely unmanageable)?
Calling it counterfeiting is a bit extreme, though.