Joseph Salerno at the Nassau Institute in the Bahamas

Prof. Salerno delivered a lecture on money and banking last Wednesday in Nassau, Bahamas. The Nassau Institute described the talk: 

“Dr. Salerno will briefly describe the era of sound money that existed under the gold standard during the 19th century and up to the onset of the First World War.  He will then discuss how government and central bank policies destroyed the gold standard and ushered in the era of pure fiat currencies and permanent inflation after the collapse of Bretton Woods in 1971. He will show how the logic of central banks and fiat money led inevitably to the housing bubble, the financial crisis, and the Great Recession, and how quantitative easing and other inflationary  “unconventional” monetary policies are now setting the stage for a recurrence of monetary and financial chaos, and possibly even hyperinflation.”

Photos from the event:

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