I do not think we should go back to the gold standard but I love Ron Paul's overall philosophy.
http://www.lewrockwell.com/paul/paul435.html
Price controls are almost universally reviled by economists. The negative economic consequences of price floors or price ceilings are numerous and well-documented. Our current series of hearings have been called to discuss the most important, but least understood, price manipulation in the world today: the manipulation of the interest rate.
By setting the federal funds rate, the rate at which banks in the Federal Reserve System loan funds to each other, the Federal Reserve inhibits the actions of market participants coming together to determine a market interest rate.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment