Comment: Dollar measuring stick is elastic. Fed Reserve Act, 1913

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Dollar measuring stick is elastic. Fed Reserve Act, 1913

Federal Reserve Act, 1913. First sentence : "elastic currency." Submitted by Mark Twain on Sat, 02/09/2013
FEDERAL RESERVE ACT, 1913 (Preamble shown here)

    "An Act to provide for the establishment of Federal reserve banks, to furnish an elastic currency, to afford [make-believe] means of rediscounting commercial paper, to establish a more effective supervision of banking in the United States, and for other purposes."

Using a proper measuring stick, supply & demand apply.

Why do we measure with an elastic measuring stick?

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