| China devalued its currency, the resignation of the Greek prime minister revived doubts about the Euro, and the markets were expecting that in a few weeks the Federal Reserve was going to begin raising the interest rates. These three strikes—connected with monetary manipulations—was followed by a large decline in the stock market.
It is natural that those of us who follow economic policy will try to find connections. Those who champion central banks and government monetary manipulation argue that their goal is to bring stability. Those of us who argue that monetary bureaucrats continue to fail, see the current scene as providing another chance to point at their failures and as another opportunity to call for sound money...............................................Full Article: Source
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