All the Gold ever extracted is 160,000 tons (in 2009) , The American Debt = 14 Trillion Dollars = 1.8 All the Gold ever extracted in Human History !!! The monetary mass in the US is increasing by 15% a year ! Total gold divided by people in the world gives each of us 23 grams
Milton Friedman explains what happened during the great depression and what the role of the federal reserve is during economic ups and downs. This is from a 10 hour documentary series
A short read and better contrast to Milton's interpretation of deflation from an Austrian as opposed to a Monetarist perspective:
ReplyDeletemises.org/books/deflationandliberty.pdf