We know the Fed inflated during the 1920s and set the stage for the bust, but some people say that if only the Fed had inflated during the 1930s, things would have improved. This is wrong on every conceivable level -- and in fact, the Fed tried its best to inflate in the 1930s. It's very important for us to get this right, because we've got the Keynesians and the Friedmanites united against us. We clear up the Fed's real record during the Depression in today's episode.

Show notes for Ep. 664