How the U.S. Treasury Avoided Chronic Deflation by Relinquishing Monetary Control to Wall Street
21 Pages Posted: 23 Oct 2015
Date Written: October 21, 2015
The Eurozone today is going into the same deflationary situation that the U.S. did under Jackson’s destruction of the Second Bank, and the post-Civil War budget surpluses that deflated the economy. But whereas the Fed’s creation was designed to inflate the U.S. economy, Europe’s European Central Bank is designed to deflate it — in the interest of commercial banks in both cases.
Keywords: Money Supply, Central Banking, Fed, Treasury, Economic History
JEL Classification: E5, G1, G2, N1, N2, N4
Suggested Citation: Suggested Citation