"I beg to differ, asset prices experienced massive inflation during that period." Massive inflation, or just a return to their free market value. Setting inte

"I beg to differ, asset prices experienced massive inflation during that period." Massive inflation, or just a return to their free market value. Setting interest rates is an artificial market intervention. In a free market the base cost of money is zero, since it can be produced on demand at the push of a button. The private price of money is then determined correctly by market action based upon credit risk and/or exchange risk.