Whenever the monetary authorities were able to create money out of nothing, there always came a time when they could not resist the temptation to overissue. What makes our monetary authorities different from those of the past? The Catholic Church has a line for this, and the Catholic Church has this exactly right: “In the face of temptation, reason succumbs.” This lecture was prepared circa 2009.
More Information can be found from Larry Parks HR1098 Congressional Testimony 9-13-11
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