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by gfdsgfsdgfs
1094 days ago
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In my experience the vast majority of people do not understand how monetary policy affects inflation. People very quickly adopt a “if you see prices rising, it's corporate greed" attitude when facing resistance or throw their hands up and say “We need price controls and limits on corporate profits." |
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This is why nobody called the effects of QE I and II correctly - if you recall it was supposed to cause widespread hyperinflation overnight when it was unwound.
Welp that was totally wrong because the financial system isn’t some deterministic mathematical function. It’s a political and human organization that will twist itself into doing whatever it needs to do to maintain the current power structure - up to and including breaking any rule that Mises, Rothbard or Jefferson could think of that would restrain the use of signoriage as political power.