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by JumpCrisscross
3907 days ago
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> [gold] matches with humanity's tradition For most of history, economic growth was minimal. Growth we expect in a year would not be seen across a lifetime. A fixed supply of money worked for a fixed-size economy. In the 1800s, the economy grew on gold due to the coincidence of gold mine output roughly matching economic growth. The moment that link broke, calls for bi-metallism grew. Within a generation, the world was forced off gold. |
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