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230: The Gold Standard

Classical Stuff You Should Know

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The Bankruptcy of France

This is what bank bankrupted France before the French Revolution. When you have this paper system that's tied to a hunger, a hunger of gold, real or theoretical. And then you have derivatives that you can derive from those, that from that paper with like a joint stock companies. So it opens up whole new realms of thought about like market confidence. It also limit the wealth growth of the nation.

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