There was no inflation before the FED, can you imagine that?
Really? Spain had 3 bouts of inflation in the 1500s.
What you are stating here isnt true.
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There was no inflation before the FED, can you imagine that?
Really? Spain had 3 bouts of inflation in the 1500s.
What you are stating here isnt true.
I think there have been other times as well. I seem to remember something about the expansion of the Roman Empire, and again in the Middle Ages when global trading accelerated. Apparently then, the merchants and traders ignored their country's rulers and set up their own system of coinage and contracts. I'm pretty certain there was inflation around the time of the Renaissance. It seems to be linked with expansions or new ways of trading.
Does that change the principle of the article that we're living in a debt economy?
I am talking about America where the FED was created, google says inflation in the US was an average of 0.3% between 1790 and 1913. The US dollar being the reserve currency today is the one the rest follow so it's the one I focused on. I edited the post to say "There was no inflation in the US before the FED, can you imagine that?"
The Spanish thing in the 1500s happened because Spain brought in lots of gold and silver to Europe and they increased their money supply that was backed with those metals, not debt. As more currency circulated and its population remained consistent, its currency value decreased compared to goods leading to a rise in prices. It's inflation but for very different reasons.