Take a look at Joe Salerno’s articles in his debate with Richard Timberlake:
http://www.fee.org/the_freeman/detail/money-and-gold-in-the-1920s-and-1930s-an-austrian-view#axzz2OH1PFYtb
http://www.thefreemanonline.org/featured/inflation-and-money-a-reply-to-timberlake/
If it is still unclear, you might consult Timberlake’s articles in the debate.
