Some people — known popularly these days as Greenbackers — oppose the Federal Reserve for all the wrong reasons: it doesn’t inflate enough (!), the bankers will wind up with all the money thanks to compound interest, there isn’t enough money created to pay all the principal and interest of all the loans in the economy, etc. They want the Fed to be abolished so the U.S. government can issue the money directly. Not exactly a fundamental disagreement with the Fed! I take them on in this episode.

My Paper

“Why the Greenbackers Are Wrong”

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