February 20, 1980
Professor Hans Sennholz
200 East Pine Street
Grove City, Pennsylvania 16127
If the trend on the enclosed graph continues we will see bankruptcies and
deflation that would even shock John Exter. Of course, we both know It
will soon reverse upward, but for the short-run speculator (your son)
thIs movement Is significant.
The discount rate of 13% Is stili below bank rates so It will continue to
encourage reserve expansion. What Is particularly Interesting,...
1299-Robert G. Anderson to Hans Sennholz Letters.pdf