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33,175 Posts.

1405

04/11/21

14:38

Post #: 57317416
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Originally posted by Joelstar: ↑

It traded between $34 and $35 for over 20 years. It was pegged to the dollar, not freely traded on the exchange.
Blaming gold for depressions is a ridiculously reductionist way of looking at it. So the private, usurious central banking system had nothing to do with it? Even Ex Fed chairman Ben Bernanke was quoted as blaming the Fed for for the Great Depression.

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The Great Depression was mostly, but not entirely, caused by the gold standard because central banks couldn't expand the money supply.
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0 Great analysis

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