Keep It Simple . . . .

The 30's have been widely heralded as a "Deflationary Depression." E, your assessment could have been precied, rather than becoming a test to the "intellectually challenged."

During the Great Depression the SP of Homestake and other gold equities ran the gauntlet, rising aggressively.

So will it matter going forward whether this coming "technical Depression" results in deflation or inflation, possibly experiencing extremes of both, as the "money supply" climbs geometrically, and the value of same adjusts accordingly.

As most currencies in the 30's were on the Gold Standard, paper was held in check until the gold price was reflated.

The supply of "paper" is the only "check" on today's M3. (No longer reported)

Its that simple!