Escape Velocity with Lacy Hunt
The ACID Capitalist Podcast
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The Fed Is Making a Down Payment
During World War II, people converted savings bonds into money. That is a typical response of a post-war period; it's not an unusual situation. The 70s was different because the non-sovereign dollar creation remained frantic until the Fed damaged the economy and then they pulled back. And so from understanding monetary policy, whether we're going to move back to low inflation depends on whether the Fed erases this money mountain.
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