Quote from: Carlton Banks on February 02, 2018, 10:16:32 AM

Quote from: Hell-raiser on February 01, 2018, 05:04:23 PM

Then the logic of your thought seems to suggest a rather frivolous and reckless thing. It is fixing the deficiency of one system, in this case the system which involves unrestricted money printing, with the strength of another, in this case the system based on monetary supply limited by a finite resource. But you seem not to care that the second system, despite its self-imposed monetary discipline, is a lot worse in and by itself than the first system whenever the latter has proper monetary discipline in place.

What is reckless or frivolous about imposing absolute discipline on inflating the money supply?

And I think you've been reading too much central bank friendly sources of information; the means by which the money supply can be expanded are many, and there is rarely any discipline as a consequence.

Well, in fact there is nothing wrong in that, and personally I'm totally fine with it, with imposing absolute discipline on inflating the money supply. But this is not what I meant. It looked like you suggested substituting one system for another just because the first has this financial discipline built-in while the other hasn't, at the same time completely discarding their other deficiencies and advantages. This is what I call a reckless or irrational thing (if you are not happy with the frivolous part).