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American Piggybank with Brad Setser

The ACID Capitalist Podcast

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The Consequences of the Gold Standard

Economics is the examination of disequilibrium and then what happens to restore society to some notion of mean reversal. It seems perhaps you could replace persistent with perpetual supplices being recorded by the Chinese model. The New York Fed looking at an economy which I thought was too strong regardless of any exogenous factor such as this overseas gold, it actually sterilized. And so a country running persistent supplices would be the recipient of gold inflows.

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