[orwin]

They are even more wrong than i thought then. The longest crisis was caused directly by hard money, it lasted more than twenty years.

And it was NOT a production or energy crisis. That what people seems to not understand. Yes, 2008 was a bubble, but a lot of bubble bursted since the 70s and none of the burst created a depression like 2008. The only reason 2008 was this big is because it was an energy crisis, almost four time worst than the oil crisis of the 70s (which is also the first energy crisis). The gold/silver standard manufactured crisis (not helped with fractionnal banking tbh) that had no reason existing at all. Just made people poorer by design. This wasn't even caused by a famine or a war.

Here is my advice: unless the expert/advocate is an historian specialist of the 19th century (or even better: specialist of foreign trade or economics during the 19th century), do not believe anything he said. Don't believe me either, but "Those who cannot remember the past are condemned to repeat it", so look it up, just read on how interesting where the time of hard metal, how easy it is to raise interest rate without impairing trade when you have a gold standard. 19th century financial crisis in the western world despite the huge production boost from pillaging colonies workforce and ressources...