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One of the people I was communicating with

referred me to a piece that defends the concept of keeping government out of the economy to the maximum extent possible. When the piece referred to Ludwig von Mises and stated:

Total bank deposits more than doubled between January 1914, when the Fed opened its doors, and January 1920. Such artificial credit creation sets the boom–bust cycle in motion.

I recognized the theory I was arguing against. I wrote a piece in April 2009 that tore apart the libertarian theory that Federal Reserve interest rates had anything to do with economic booms & busts.

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