Comment by cyberax
8 hours ago
> Ok, bear with me for a moment - what if the US would use actual physical gold coins instead of dollars?
You'll get a bear economy, leading to the eventual deflation and collapse.
Fun fact: it was not hyperinflation in Weimar Germany that led Hitler to power but _deflation_ because of its insistence on sticking to the gold standard.
Fake economics to "stable money causes hitler" in two sentences.
Countries used gold or metals either directly as currency or to back paper currency for hundreds of years. If their governments overspent they collapsed.
Saying you need inflation or you get hitler is pretty wild.
> Fun fact: it was not hyperinflation in Weimar Germany that led Hitler to power but _deflation_ because of its insistence on sticking to the gold standard.
Do you have a source for this? AFAIK https://en.wikipedia.org/wiki/Hyperinflation_in_the_Weimar_R...
Hyperinflation in weimar Germany ended by what, 1924-ish with a return to gold standard? Hitler came to power 8+ years later
"Hyperinflation caused Hitler" is one of the common narratives that "everyone knows". But German economy was actually growing during the hyperinflation era and by the time of Hitler's ascension, the hyperinflation had long been in the past.
I personally edited this very Wikipedia article several times, but my changes got reverted by goldbugs who want to memory-hole it.
This article has a nice explanation: https://www.hertie-school.org/fileadmin/user_upload/20191101...
If you don't believe the numbers from it, they can be corroborated easily.
Thanks for sharing. I can corroborate some of the unemployment numbers in Lords of Finance and have no doubt there was some deflation. I do think the seeds of the Third Reich were sown well before this period mostly due to the insistence of France wanting full reparations and Germany borrowing in foreign currencies.
https://en.wikipedia.org/wiki/Lords_of_Finance