Martin Wolf: Back to the Gold Standard?
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@alCIAdadidit Which of his three points (all related to the instability that arises when pegging a nation's currency to gold) are wrong? A country absolutely gives up a lot of control over their money supply when converting from fiat currency controlled by a central bank to pegging it to precious metals like gold, silver, etc. So while some countries could go back to the gold standard, it would almost certainly lead to financial disaster for them.
spoonster12 2 months ago
he's wrong about not being able to get back to a gold standard. and it wasn't in the 30s when the us went off, it was only 1971, when nixon took us off. not that long ago.
alCIAdadidit 5 months ago