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A comment on The U.S. government’s failed 1890s attempt to forge unity through currency. Parent comment

Re:The U.S. government’s failed 1890s attempt to forge unity... by bobthepanda on Friday June 11, 2021 @01:08PM (#27475891)
I don't know that the poor were any better off before the Federal Reserve system; in fact, it made the possibility of monetary rescue even more exclusive.

Part of the reason why the Federal Reserve was formed was because in 1907 J.P. Morgan got his boys' club together and coordinated a financial rescue, but tough luck if you weren't benefitting from that.

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Re:The U.S. government’s failed 1890s attempt to forge unity... by dnautics on Friday June 11, 2021 @01:27PM (#27476125)
Broken window fallacy.

Letting things fail is a possibilty. The boys' club can get together and coordinate a rescue, but in one out of every n attempts of coordinated rescue, they'll fail. Which will be good for leveling income inequality.

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Re:The U.S. government’s failed 1890s attempt to forge unity... by xxpor on Friday June 11, 2021 @02:11PM (#27476691)
That's also how you end up with wars.
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Re:The U.S. government’s failed 1890s attempt to forge unity... by dnautics on Friday June 11, 2021 @03:21PM (#27477396)
No, since 1900 wars are more correlated with inflationary predictors than deflationary predictors.
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Re:The U.S. government’s failed 1890s attempt to forge unity... by xxpor on Friday June 11, 2021 @04:46PM (#27478259)
They're correlated with instability. I'd agree hyper inflation is a cause of instability. 2-3% isn't.
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Re:The U.S. government’s failed 1890s attempt to forge unity... by dnautics on Friday June 11, 2021 @06:17PM (#27479170)
You are making an assertion based on a model that is strictly in your head because it seems "right". Please check your history.
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Re:The U.S. government’s failed 1890s attempt to forge unity... by imtringued on Friday June 11, 2021 @06:40PM (#27479386)
Wars create a lot of debt and inflation is effectively the act of not honoring the debt. It's pretty obvious why inflation follows wars.
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Re:The U.S. government’s failed 1890s attempt to forge unity... by bobthepanda on Saturday June 12, 2021 @11:18AM (#27485063)
Is that because of the existence of the Fed, which only started up in the 1910s?
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