1. F A Hayek’s Nobel Prize in economics had to do with exactly this: Showing how central bank manipulation of interest rates and money cause havoc throughout the economy, and set the stage for an inevitable bust. The Fed often tries to delay the day of reckoning, the painful period when the malinvestments are liquidated and the economy is restored to true health. It will cut rates yet again. The false prosperity continues, but the problem of malinvestment only gets worse. The Fed cannot carry on the charade forever: if it inflates without end, it risks hyperinflation and the destruction of the currency.
    — Ron Paul. The Revolution: A Manifesto (via gatsandpartyhats)