MD = 1 is the basis of the fiat monetary conservation hypothesis Money supply _ M, M = (M0 + T (treasuries)) Fiat Money value (US$ _ D), D = 1/gold Physical Gold is the only measurement or basis that fiat money compares to. Fiat money self-destructs through history because of the expansion of national debts; the Fed is just an agent, and its balance sheet is composed mostly of national debt.
Пікірлер: 48