http://www.ernharth.com/vi/2005/08/31/quote-greenspan-on-fed-credit/ Don't Be a Fall Guy Wed, 19 Nov 2008 15:26:13 +0000 http://wordpress.org/?v=2.6.2 http://www.ernharth.com/vi/2005/08/31/quote-greenspan-on-fed-credit/#comment-24 Ernharth Perspective » Blog Archive » Commentary September 1, 2005 Fri, 02 Sep 2005 04:25:05 +0000 http://www.ernharth.com/2005/08/31/quote-greenspan-on-fed-credit/#comment-24 [...] In the meantime, we remind our readers that the original definition of inflation is, quite literally, “printing money”. And that is primarily what The Fed has done since its creation in 1913. Keep in mind that there was no inflation prior to the Fed, but rather a steady increase in the purchasing power of saved currency vs. what we have now. (Please also see Alan Greenspan’s quote on The Fed’s responsibility for The Great Depression.) [...] [...] In the meantime, we remind our readers that the original definition of inflation is, quite literally, “printing money”. And that is primarily what The Fed has done since its creation in 1913. Keep in mind that there was no inflation prior to the Fed, but rather a steady increase in the purchasing power of saved currency vs. what we have now. (Please also see Alan Greenspan’s quote on The Fed’s responsibility for The Great Depression.) [...]

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