They still teach fix exchange rates in school. They don't teach floating exchange rate in school. I mean we've been on a floating exchange system since 1971. They don't teach hedging, they don't teach any of this stuff.
If we increase the money supply that will be inflation Airy. Well the ECB did that in 2014 lowered interest rates to negative, and there was no inflation until Covid.
12:36. So what's wrong with this idea that you can just lower interest rates and boost the economy?
It's a theory that Keynes put together back in the Great Depression. And Herbert Hoover was running balanced budgets back then. So he was arguing that you should run a deficit to help compensate for the decline in demand. And then politicians took that as an okay to have deficits, and they never stopped. You see, they take what they want. Back then changes idea at least it made sense that we will raise interest rates to stop people from borrowing and spending. We'll lower interest rates to stimulate. The government wasn't
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