Larry White on Gold, Fiat, and Bitcoin: Determining the Ideal Monetary Standard
Macro Musings with David Beckworth
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The Importance of Political Support for the Gold Standard to Work
The gold standard itself had to be supported politically correct. The government has to cooperate in the sense that it doesn't interfere, he says. All it takes for this self-correcting process to work is that the government doesn't interfere by changing the gold definition of the monetary unit or debasing the coinage. "There has to be a consensus that we don't monkey with the monetary system"
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