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>Central banks have their issues, to be sure, but I'm pretty sure they're better than the huge boom & bust cycles they replaced.

Are you implying central banks are not cyclically prone to "booms and busts"?

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Not in the "all the depositors discover all of their money is worthless because it actually can't be redeemed for gold like the bank note said" sense, no.

No, I'm implying that central banks are less prone to booms and busts than not having central banks. Just because they're an imperfect solution doesn't mean they're not addressing a real problem.

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