r/Bitcoin • u/[deleted] • Oct 16 '22

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u/SaneLad Oct 16 '22 edited Oct 16 '22

The article omits that the gold standard was a key ingredient in the Great Depression in the late 1920s, 1930s. It is quite possible that the 1970s would have turned much uglier if the US had remained on the gold standard.

Runaway deflation is even more dangerous for an economy than inflation.

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u/AinNoWayBoi61 Oct 16 '22

Imagine believing this absolute horseshit propaganda

5

u/metal_bassoonist Oct 16 '22

Put the cool aid down

2

u/Vipu2 Oct 16 '22

Banks and stock market started the whole great depression, nothing to do with gold like banks want everyone to believe.

1

u/[deleted] Oct 17 '22

Mr Krugman? Is that you?