Friday, 3 June 2022

Q: Is our Reserve Bank any better?

"[S]ince its inception in 1913, [the US Federal Reserve Bank] has given us one Great Depression, a bunch of recessions and a currency worth maybe 1/20th of its 1913 value. 'The Fed' is an inflation factory, stumbling and fumbling from one self-inflicted crisis after another."
~ Larry Reed, from his article 'How the United States Conquered Inflation After the Civil War'

1 comment:

PC said...

A: Since the NZ Reserve Bank was founded in 1934, it has helped prolong one Great Depression, helped deliver a bunch of recessions, and overseen a currency worth (from its own Inflation Calculator) 1/100th of its 1934 value. [See]