Bernanke’s Deep Understanding (bastiat.mises.org)
- Highlight Loc. 15-17 | Added on Wednesday, March 21, 2012, 09:26 PM
The Fed Chair admitted that the gold standard provides price stability–but only in the long run. He stressed that there have been short-term periods of price inflation and deflation under gold. Well sure, prices increase and then correct, that’s what a gold standard does. Under central bank management prices just increase;
