"That's why the dollar had to be detached from gold."
No, Nixon decoupled the dollar from gold in 1971 because some countries (e.g. France) were demanding to redeem dollars for gold as originally promised under Bretton Woods, but the US very likely did not have enough gold to cover the dollars it had printed.
I agree that a deflationary currency discourages spending compared to an inflationary currency, but I don't see that as a bad thing. It discourages *stupid* spending, and encourages *sensible* spending.
DataNostrum
npub1f2…xam7y
2024-06-18 15:06:18
in reply to nevent1q…fc2a
Author Public Key
npub1f2jdyfzqwuzzn7n5tdn5l2m7gmkjvlek5x46uml5arfxadjm0afq5xam7yPublished at
2024-06-18 15:06:18Event JSON
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