Tuesday, November 06, 2007
Old School Charts
This I found interesting because it shows you just how much monetary policy has changed since we switch to a fiat money system. I curious if any economists out there had studied the fluctuations between silver and gold and the supply levels of each and how these values played themselves out in the currencies (click on it to enlarge).
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Milton Friedman wrote some very interesting books about money and monetary policy of that time. He came to the conclusion that bi-metallism would have been the perfect choice as a monetary base for the time 1870-1930.
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