Monday, September 16, 2013

Gold and growth, the depression


Am I mistaken or does growth begin before gold purchases by the Fed? Remember, this is nominal GDP, and they didn't have the grey bars back then. Growth crosses zero, gold purchases spike, growth keeps on increasing at the same rate. Roosevelt drop fixed gold payments and let gold float on June, 1933, and the fed refilled reserves. In nominal terms, Roosevelt already knew he had a growth spurt going.

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