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ABSOLUTLEY INADMISSIBLE IDEAS

Grant’s Current Yield Podcast

CHAPTER

The Paradox of Progress Moving Backwards in This Most Essential Business of Lending and Borrowing and Money

The 18th century working classes appeared to have understood fairly well what was wrong with printing infinite quantities of money. But when Britain went off the gold standard in February 1797, which they had to do because they were running a huge budget deficit that year, it was not a big one. And no one says nothing about it or about the paradox of progress moving backwards in this most essential business of lending and borrowing and money. It's quite extraordinary, isn't it? The question I wish is this game. But I guess the question is, ain't that right?

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