The Chicago Plan

choff · Post by **choff** » Wed Oct 03, 2012 6:26 pm

Found this the other day, thought I'd post it and see if anyone else has heard of it. Seems some high level economists in the '30's proposed a banking and monetary reform package even more radical than anything I've heard of before. Now some IMF economists have modeled it and claim GDP gains of 10% and 0% inflation are possible for the US with it.

http://www.imf.org/external/pubs/ft/wp/2012/wp12202.pdf

hanelyp · Post by **hanelyp** » Thu Oct 04, 2012 4:05 am

First impressions from just the title: Anything called "The Chicago Plan" I'd expect to produce closer to 0% growth and 10% inflation.

JLawson · Post by **JLawson** » Thu Oct 04, 2012 12:10 pm

hanelyp wrote:First impressions from just the title: Anything called "The Chicago Plan" I'd expect to produce closer to 0% growth and 10% inflation.

Plus New! Improved! Corruption!, 75% more efficient and in a wider range of fragrances than before!

I'm still hoping for the Fair Tax. Don't expect to see it - far too many social engineers inside the Beltway who see taxation as a tool for social change.

choff · Post by **choff** » Thu Oct 04, 2012 8:30 pm

The thing that gets me is that the 'amateurs' like the Socreds, Guernsey Islanders, British Greenback pounders, Dennis Klucinick and the rest are promoting minor tinkering compared to what these 'pros' are suggesting. The pro's would create fiat money at twice the value of GNP!

I do like the history section, they suggest the German post WW1 hyperinflation was caused by the switch from public to private central banking and currecy speculation, or that Adam Smith got it wrong about how money is created. I'll have to read up on this Greek guy Solon.