I found this quote, which is quite telling:
At the moment there is no sign of that because the financial system is broke and you can not have inflation if the financial system is not working.It's quite a progress for a keynesian bouffon like him to admit that the system is broke and that we'll deflate, I'm very impressed.
What he hasn't realised yet — or better, he doesn't want to admit in front of the public — is that he contributed as much as contributing was possible to the current state of affairs.
2 comments:
If he's smart, he'll come out and claim he did all that debt creation on purpose to destroy the current system and force the world back on a hard money standard.
His 1967 paper on gold would provide him cover.
Yes, his 1966 (?) paper is a great real money treatise.
Let's see if he ever dares to claim he did all that on purpose. :-)
Post a Comment