Question About the Roaring 20s 7 Months, 3 Weeks ago
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Hi Patrick. I have been recently attempting to improve my understanding of how The Fed has become the monster it is. To do this I went back and collected specific podcasts where you and Andrew discuss the events as they played out in history. The question I have is for either you or Andrew, it doesn't really matter. I figure you will probably know since you've discussed these things with Andrew so much. I was listening to your show on the Great Depression and there is only one thing I would like more clarity on. How did the extra notes that came back from Britain after world war I translate into the boom of the roaring twenties. I understand that it was extra notes that weren't backed by gold because of the duplicate note scheme, but I'm just trying to better understand how the extra notes caused the prosperity. If either one of you could explain the exact mechanics that would be great. I would have asked this question on air, but I don't usually have time to be a regular listener.