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Raging Bullion: Is Gold a Good Investment?
Many Happy Returns
The Great Depression Wasn't Exacerbated by the Gold Standard
Some people think that the Great Depression was actually exacerbated by the gold standard. The way you get out of a contractionary environment and prices falling is you kind of have to print more money and you can't print gold. So after the Lehman bailout that we had in 2008, which essentially stabilised the financial system and stopped the Great Depression,. even though we had seven years until the economy really recovered in the US. It would have been much worse, I think, if the central bank hadn't been able to intervene with QE1 and then QE2 and so on.
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