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by jcranmer
2007 days ago
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> It's valued by cultures that have no relationship with one another and no common past, totally independent. Actually, not really. In historical terms, the gold standard is historically limited to cultures that existed in (direct or indirect) trading relationships with the Mediterranean culture. Notably, China (and correspondingly East and Southeast Asia) instead used a silver standard, while the New World cultures eschewed gold or silver for monetary standards. |
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