the austrian school would argue, here we talk about economists like ludwig rbc's, friedrich hayek that won a nobel prize in economics. and today's austrians would argue that the federal reserve is really an engine of inflation and is not really control inflation. it actually encourages inflation. that's a very different view from the federal reserve itself as one of our goals is to keep inflation down. if you look at its been 100 years since the federal reserve has been established. prior to that. in the united states, inflation was virtually nonexistent except for brief periods of time during war, civil war, what have you. the inflation was virtually nonexistent for the first 100 years. since 1913, inflation has gone up thirtyfold, 3000%. this is not my study. this is a harvard economist who reported at the meeting finish of this incredible chart. i may have it on wall street but there's no inflation at all in such diet takes off, suggesting the federal reserve is an engine of inflation and not really a defender of the dollar like it should be. >> host: mark skousen, who are contempor