Hacker News new | ask | show | jobs
by desumeku 483 days ago
It didn't "fail". It was gradually dismantled and replaced by a new economic order based on credit.
1 comments
stouset 483 days ago
As a homework exercise, I’d like you to consider just how much gold would be necessary to back the current amount of dollars in circulation.
link
desumeku 483 days ago
This is a dumb question. The Fed can endlessly print as many dollars as it wants. They could print $20 trillion tomorrow. See? Just think about how much gold would be required to back that $20 trillion! Clearly gold is stupid. Right?
link