Mises Daily
Author:
James Grant
Online Publish Date:
we are about to make the case that there has been no net progress in doctrine and policy since 1914, when the lights went out on the true-blue gold standard. Some will Chairman Bernanke’s $2.2 trillion balance sheet and inform his interest-rate policy. Maybe it’s as simple as the fact that the living authorities don’t know, and bank reserves with the Fed. All three are unorthodox. The third is unorthodox and innovative. All three are conceptually simple.” Still simpler is the old doctrine