WiM023 - The Frisby Series | Episode 4 | Technology and Cyclicality
The "What is Money?" Show
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The History of the Gold Standard
england went off the gold standard in order to print money for a war against napoleon. The next big evolution of money was 19 14, the beginning of the first world war. If we had stayed on the gold standard, if sound money had reigned, those wars could not have gone on for anything like the extent that they did. And so fiat money made that war possible. But when did that transition from gold to Fiat money happen? 19 14, a hundred years after the last great re a in 18 16. So you've got this hundred years cycling money. There's a lot to be proud about. You know, some, many, many great british people who
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