Comment by desumeku 4 months ago It didn't "fail". It was gradually dismantled and replaced by a new economic order based on credit. 2 comments desumeku Reply stouset 4 months ago As a homework exercise, I’d like you to consider just how much gold would be necessary to back the current amount of dollars in circulation. desumeku 4 months ago This is a dumb question. The Fed can endlessly print as many dollars as it wants. They could print $20 trillion tomorrow. See? Just think about how much gold would be required to back that $20 trillion! Clearly gold is stupid. Right?
stouset 4 months ago As a homework exercise, I’d like you to consider just how much gold would be necessary to back the current amount of dollars in circulation. desumeku 4 months ago This is a dumb question. The Fed can endlessly print as many dollars as it wants. They could print $20 trillion tomorrow. See? Just think about how much gold would be required to back that $20 trillion! Clearly gold is stupid. Right?
desumeku 4 months ago This is a dumb question. The Fed can endlessly print as many dollars as it wants. They could print $20 trillion tomorrow. See? Just think about how much gold would be required to back that $20 trillion! Clearly gold is stupid. Right?
As a homework exercise, I’d like you to consider just how much gold would be necessary to back the current amount of dollars in circulation.
This is a dumb question. The Fed can endlessly print as many dollars as it wants. They could print $20 trillion tomorrow. See? Just think about how much gold would be required to back that $20 trillion! Clearly gold is stupid. Right?