I never disputed that the intentions behind the federal reserve were not to create the largest economic depression in history

I never disputed that it was in response to financial panics and recessions, and I never disputed that the intention behind manipulation of the interests rates was not with the intention of confusing investors. This was probably well-intentioned. But the road to hell is paved with good intentions. Rather than stopping the roller-coaster ride of economic booms and busts, the Fed made the booms less prosperous and the busts far worse. The Great Depression, while linked to widespread bank failures, decreased consumer spending, and international trade policies, was indirectly caused by the federal reserve because government manipulation of the economy and inflation caused all of the birth-pangs of the Depression you mentioned in your disagreement.

It is critical to understand that in 1921, all of these horrible things were happening. The year 1921 was worse than the year 1929, 1930, and 1931. But something was different – because of the conservative administration of Warren G. Harding, the federal reserve was prohibited from manipulating the interest rates. There was zero inflation, no fiat currency, a Gold Standard, and highly-reduced taxes. As a result, the economy went through that Depression at unprecedented speed and was back on its feet by January of the next year, inaugurating the greatest decade of prosperity any nation has ever known.

The Gold Standard's supposed economic instability is nothing compared to the instability of the fiat currency. Our currency is not real, it is just slips of paper backed by the government and nothing more. It can be manipulated at their political whim. The reason I support Gold, however, is because under it the power of the purse lies with the people, not the government. In a Gold Standard system, it's impossible for the government to manipulate the money supply and dishonestly steal the people's revenues through inflation. I'm darn glad it renders the injection process impossible, because injection is evil and cano only be used by taxing the people's money.

In today's highly connected global economy, none of this would change. Nations (like ours) have risen to incredible prosperity on Gold. And nations (like ours) have died because of inflation of a fiat currency manipulated by the whim of politicians. The definition of insanity is trying the same thing and expecting different results. We should not be insane, we should learn from the lessons of history.