“The myth at the heart of internet Austrianism” (LINK)

Link: “The myth at the heart of internet Austrianism”

From The Money Illusion, debunking the idea that the 1929 crash was caused by an bubble of inflation in the 1920’s. Choice quote:

5.  The price of gold:  Lots of modern internet Austrians focus on soaring gold prices as an indicator of inflation.  If we are going to use gold prices as a proxy, then here are the inflation rates for each year of the 1920s:  0%, 0%, 0%, 0%, 0%, 0%, 0%, 0%, 0%, and 0%.

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