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230: The Gold Standard

Classical Stuff You Should Know

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The Rise of the US Dollar

The US has their dollar tied to the amount of gold that they have. But if you have your currency tied to a big hunk of gold and people are crying out for the US dollar, you now have this new strain in your system. The world is doing the vast majority of its trade in the US dollar. Because it's backed by a bullet, not backed by gold. It's backed by the safety of this system. You can almost guarantee by clockwork that as boats get no longer susceptible to weather events, you can guarantee that trade. We got to the point where before COVID we could have just in time shipping, which meant that you couldn't keep like storehouses of

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