Volcker decidedly caused two back to back recessions. He never constrained legal reserves. And Paul Volcker's operating procedure Volcker targeted non-borrowed reserves (@$18.174b 4/1/1980) when at times there were over (@$44.88b) in total reserves. Monetarism has never been tried
The GFC was predicted in May 1980. The GFC's modus operandi was predicted in Nov. 1987.
Volcker believed in 1981 that banks should be paid on their IBDDs on rounds of equity [sic]
In June 1987 it was predicted that the money stock would heretofore supplant changes in Vt.
Volcker decidedly caused two back to back recessions. He never constrained legal reserves. And Paul Volcker's operating procedure Volcker targeted non-borrowed reserves (@$18.174b 4/1/1980) when at times there were over (@$44.88b) in total reserves. Monetarism has never been tried