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<p>[QUOTE=&quot;V. Kurt Bellman, post: 2178481, member: 71723&quot;]Well, there IS that, but maybe you should have attended my Numismatic Theater (that&#039;s what they were called then) talk at Rosemont ANA in 2011. There are/were four eras of banking in the history of the United States:</p><p>1) Banks of the United States era.</p><p>2) Open banking era.</p><p>3) Federal Reserve with a gold backed dollar.</p><p>4) Federal Reserve with a fiat dollar.</p><p><br /></p><p>In era 1, recessions averaged 24.7 months in length and the growth periods between them lasted an average of 34 months.</p><p>In era 2, 22.3 month recessions 25.3 months apart on average.</p><p>In era 3, 21.7 month recessions 23 months apart on average.</p><p>But in your evil fiat currency era, recessions have averaged only 11 months in length and the average interval between them is 59.4 months!</p><p><br /></p><p>So tell me, why do you want more and longer and more frequent recessions and depressions? Because by advocating a hard currency, that&#039;s what you&#039;re signing up for.[/QUOTE]</p><p><br /></p>

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