Money and Finance: Crash Course Economics #11
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Date: 2022-04-04
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Comments and reviews: 7
Jaxon
And I agree the gold standard is unlikely to return, but the reason for that is self interest. Incentive, as you so rightly put it. Politicians and bankers don-t want to enact a gold standard because politicians and bankers don-t want restrictions on how much they can spend and how much money they can print without end. It is in their own self interest to keep the gold standard, which would enforce fiscal responsibility, extinct.
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And I agree the gold standard is unlikely to return, but the reason for that is self interest. Incentive, as you so rightly put it. Politicians and bankers don-t want to enact a gold standard because politicians and bankers don-t want restrictions on how much they can spend and how much money they can print without end. It is in their own self interest to keep the gold standard, which would enforce fiscal responsibility, extinct.
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Jaxon
Gold standard kept central banks and sovereign governments from unbridled spending. Debt skyrocketed as soon as the gold standard was ended in the 70-s. Currencies are now subject to inflation. This is why owning gold is so important, and it-s why central banks worldwide store thousands of tons of gold and even now are buying more gold for their reserves. As JP Morgan said, -gold is money, everything else is credit-.
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Gold standard kept central banks and sovereign governments from unbridled spending. Debt skyrocketed as soon as the gold standard was ended in the 70-s. Currencies are now subject to inflation. This is why owning gold is so important, and it-s why central banks worldwide store thousands of tons of gold and even now are buying more gold for their reserves. As JP Morgan said, -gold is money, everything else is credit-.
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sabina
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Agnieszka
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Haik
the guy: we dont need these green sheets of paper
Also him: you can support us with your green sheets of paper
we dont need them but they do coincidence i think not.
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the guy: we dont need these green sheets of paper
Also him: you can support us with your green sheets of paper
we dont need them but they do coincidence i think not.
reply
Havin
WAIT WAIT WAIT! Am I the only to notice the Ruffles bag of chips (bottom right) when referencing the indigenous people - 2: 06 LOL!
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WAIT WAIT WAIT! Am I the only to notice the Ruffles bag of chips (bottom right) when referencing the indigenous people - 2: 06 LOL!
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Pencil
Thank you guys so much, you have been so helpful really, you have no idea how hard economics has been for me, thanks so much
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Thank you guys so much, you have been so helpful really, you have no idea how hard economics has been for me, thanks so much
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