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6min chapter
Will America Adopt Bitcoin? with Lawrence Lepard (WiM173)
The "What is Money?" Show
What Happened to the Dollar Exchange Standard?
In 19th century, the U.S. had a sound money system in theory. It worked fine for a while but then we started to abuse the privilege. From forty five to late fifties, we ran surplus as often as we ran deficits. In bullshed, we totally defaulted versus for versus foreigners. The biggest mistake we made was letting the gold price get out of control. And that's part of the story i've kind of skipped over.
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