edilmedeiros on Nostr: Interesting to see that when the gold standard was raised the dolar price didn't ...

Interesting to see that when the gold standard was raised the dolar price didn't plummeted to zero compared to other currencies, even though they couldn't be reddemed for anything anymore. People didn't even notice the change, the fact that it was redeemable before was irrelevant for the real economy. This is evidence that being redeemable for something else is not what makes currency valuable.