The US was stable for over 100 years without a central bank. The reason countrie... | Hacker News

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WalterBright 5 months ago | parent | context | favorite | on: Business Booms and Depressions Since 1775 (1943)

The US was stable for over 100 years without a central bank.

The reason countries have a central bank is so they can inflate the currency.

WalterBright 5 months ago [–]

For all the folks who don't believe me, the term "sound as a dollar" was a common compliment in the US before 1914.

You never hear it anymore.

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