Zenoctate@lemmy.world to Greentext@sh.itjust.works · 10 months agoAnon describes currencylemmy.worldimagemessage-square28linkfedilinkarrow-up1370arrow-down140
arrow-up1330arrow-down1imageAnon describes currencylemmy.worldZenoctate@lemmy.world to Greentext@sh.itjust.works · 10 months agomessage-square28linkfedilink
minus-squarelurch (he/him)@sh.itjust.workslinkfedilinkarrow-up6arrow-down3·10 months agothey used to back it with gold, didn’t they? gues nixon ran out while the printing press went brrrrr
minus-squareAllNewTypeFace@leminal.spacelinkfedilinkarrow-up15arrow-down1·10 months agoThey abandoned the gold standard because it suffered from acute boom and bust cycles.
minus-squareMachineFab812@discuss.tchncs.delinkfedilinkarrow-up1arrow-down1·10 months agoThe boom and bust cycles never went away though. They merely threw up enough barriers for the commoners to believe they are safe, while also locking most commoners out of meaningful participation in the markets.
they used to back it with gold, didn’t they? gues nixon ran out while the printing press went brrrrr
They abandoned the gold standard because it suffered from acute boom and bust cycles.
The boom and bust cycles never went away though. They merely threw up enough barriers for the commoners to believe they are safe, while also locking most commoners out of meaningful participation in the markets.
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