1994-05-02 - The American money capture
Header Data
From: hughes@ah.com (Eric Hughes)
To: cypherpunks@toad.com
Message Hash: 6275b5f2a0b89cfba063de2a7dc9732178dc66ecf42fff993c9cb663a688ac08
Message ID: <9405021735.AA26849@ah.com>
Reply To: <199405011708.KAA16423@jobe.shell.portal.com>
UTC Datetime: 1994-05-02 18:01:49 UTC
Raw Date: Mon, 2 May 94 11:01:49 PDT
Raw message
From: hughes@ah.com (Eric Hughes)
Date: Mon, 2 May 94 11:01:49 PDT
To: cypherpunks@toad.com
Subject: The American money capture
In-Reply-To: <199405011708.KAA16423@jobe.shell.portal.com>
Message-ID: <9405021735.AA26849@ah.com>
MIME-Version: 1.0
Content-Type: text/plain
>(Today, with our experiences of inflation in the 1970's and 1980's, it is hard
>for us to appreciate the problems with deflation. But I think deflation was
>much worse.
The Great Depression was pretty clearly caused by deflation in the
money supply. To quote Milton Friedman:
"All told, from July 1929 to March 1933, the money stock in
the United States fell by one-third [...]"
Capitalism and Freedom, p. 50
Eric
Thread
Return to May 1994
- Return to “Hal <hfinney@shell.portal.com>”
- Return to “hughes@ah.com (Eric Hughes)”
Return to “nelson@crynwr.com (Russell Nelson)”
- 1994-05-01 (Sun, 1 May 94 10:07:14 PDT) - Re: The American money capture - Hal <hfinney@shell.portal.com>
- 1994-05-02 (Mon, 2 May 94 11:01:49 PDT) - The American money capture - hughes@ah.com (Eric Hughes)
- 1994-05-23 (Mon, 23 May 94 04:11:51 PDT) - Re: The American money capture - nelson@crynwr.com (Russell Nelson)