Contradiction of The Gold Standard | The Twilight of Gold Series | Episode 4 (WiM142)
The "What is Money?" Show
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The Importance of a Final Settlement Mechanism
Inflation means expanding the money supply even more, right? You can't let pricesdecline, otherwise it just crushes the debt structure. And this is speaking resoundingly to the importance of properly alined incentives. A credible pre commitment mechanism prevents the authorities from all ting the monetary growth from its preannounced path. By preventing the government from cheating, can preserve long term price stability.
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