Re: Financial topics
Posted: Wed Aug 12, 2020 9:00 am
At that December 1935 meeting, the FOMC had voted 7 to 5 against an increase in banks’ reserve requirements. As noted in the quote above, the argument wasn’t against inflation, even the “no” votes were worried about it, rather it was about what they thought might be the best way to deal with the monetary situation; how best to address those “excess” reserves.
To that end, the Board passed (8 to 4) a resolution stating that monetary inflation was in need of attention at that time, only that some members preferred the simpler, cleaner bond sales.
By July 1936, however, central bankers felt they could no longer wait. Opposition to using the reserve requirement instead of the Open Market Desk melted away and the new mandate was scheduled for a phased-in approach beginning later that year. In its August 1936 Annual Report, the Fed declared:
The Board’s action was in the nature of a precautionary measure to prevent an uncontrollable expansion of credit in the future.
And almost as soon as the reserve requirement was raised the banking system bled liquidity, the economy fell into a second severe contraction, one which would’ve rivaled the country’s worst had it occurred on its own, and the Great Depression once more proved its absolute deflationary hold.
The 1937-38 depression-within-a-depression.
The current measure seen from Treasury and the current safety valve metal maps.
As we read with Dietrich capital is fungible and apples and oranges of atypical Utility.
Beyond the pale has connotations still missed.
I would reflect what the Germans said on cost push in relationship to what sparked zone inflationary facts.
https://www.magadhuniversity.ac.in/down ... RE%206.pdf
For over a century the 1:3 exchange is all they are bitching about as value added.
Not rocket science. They just use rockets for eugenics cults and on another topic tissue sales for moleks infecting minds to mores.
The Monasteries for century's preserved knowledge and advanced agriculture as practices draining literal real swamps
with Borders for obvious reasons to assist factual issues in assistance's.
You may wish to note pork exports to consumer substitution realities for a simple example.
Brazil bought American proecessing plants and sold them to the Chicoms.
The wage arbiters started in 1987 locally on these effects. Clueless is a condition.
Only query was fair trade not free as Romer and cults subsidized out tax capital flows.
As we noted your decades late to intent.
