Luxas
2w ago
😳
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Cody
@StackSatsRaiseFamily
♥︎ by author
2w ago
Yeah, she’s just wrong for so many reasons
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Kaan
@Kaan
♥︎ by author
2w ago
I am not a Trumpist or a tariff or a statist, don't get me wrong, but this is a ridiculous tweet, a false cause and effect conclusion, a ridiculous correlation. The depressions of 1819, 1929 and 2020 were business cycles that occurred entirely as a result of fiat money and government monetary expansion i.e. quantitative easing. Fiat money is a ponzy, its bankruptcy is inevitable, and quantitative easing is just a technically cool name for counterfeiting that was invented for purely obscurantist motives. Wherever the money supply is increased, the economy collapses; an increase in the money supply is not an increase in wealth, but a misallocation of purely false indicators. If money deteriorates, people also deteriorate, and human memory shrinks.
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Luxas
@Luxas
2w ago
QE was not around in 1800/1900s and is a fairly new thing as of the early 2000s.
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Kaan
@Kaan
♥︎ by author
2w ago
The panic of 1819 grew largely out of the changes wrought by the War of 1812, and by the postwar boom that followed. The war also brought a rash of paper money, as the government borrowed heavily to finance the conflict. The government depended on note-issuing banks spread throughout the country. All of this put tremendous strains on the banks’ reserves of specie held against such notes. This would inevitably lead to suspension of specie payments in some parts of the country in 1814.
Freed from the shackles of hard money, the suspension of specie led to a boom in the number of new banks started in the country, and a subsequent boom in note issuance. The war altered the economic pattern of production in a way very different from what would have evolved in the absence of war, and thus it placed the economy on a sandy
Freed from the shackles of hard money, the suspension of specie led to a boom in the number of new banks started in the country, and a subsequent boom in note issuance. The war altered the economic pattern of production in a way very different from what would have evolved in the absence of war, and thus it placed the economy on a sandy
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Monkey Pox Denier
@Monkey Pox Denier
2w ago
You don't need QE to print more money...
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Luxas
@Luxas
2w ago
Did I say you did?
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