Today, there is a spreading awareness that our monetary situation is rather rotten. Leaving things up to central bankers, who are obviously making it up as they go along, has not worked out very well....
Tag: PhDs
PhDs Killed Off the Gold Standard In 1971, Not ‘Guns & Butter’
It’s not very well known, but for much of the U.S.’s existence the dollar was linked to gold without any significant stock of gold as backing. This was logical. David Ricardo was clear that a gold sta...