The Beauty of The Gold Standard | The Twilight of Gold Series | Episode 5 (WiM150)
The "What is Money?" Show
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Is Fiot Currency Convertible to Bit Coin?
Cunliff: Forced deflation will solve, it'll solve thu. It'll solve the convertibility, and it might solve your trade and balance as well. Under the gold standard regimeminuni sort of already covere this, but i just want to repeat, they offer interest payments by borrowing money from around the world. But then those debts, which they're offering in tha higher interest rates, they're redeemable in gold. So ya high strates attracts more gold. Only the tr only. You can only finance that interest cost with a trade surplus. If you have a trade deficit, there will at some point be a squeeze, right?
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