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Fiat currencies contribute largely to asset bubbles and malinvestment by suspending market forces. The Fed is actually on record stating their desire to create
by rajacombinator 9y ago
Fiat currencies contribute largely to asset bubbles and malinvestment by suspending market forces. The Fed is actually on record stating their desire to create and reinflate asset bubbles, see Bernanke on “wealth effects.”
- loceng 9y agoWould this be possible if there was only a single, global currency, resulting in part where no single nation can print money? It feels like it would solve a bunch of major issues. It would obviously take a lot of delicate diplomacy to reach that goal.