A Stock and Crypto Reversal, but Not a Bottom – Ep 771
The Peter Schiff Show Podcast
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The Gold Standard Isn't Working for a Reckless Government
We thrived while we were under a gold standard, writes Julian Zelizer. The problem is that after roosevelt came in and wanted to expand government, he had to value the dollar against gold,. And then we had an even bigger expansion of the welfare state under and and johnson in the 19 sixties. By the 19 seventies, it was clear that we couldn't continue. So the only way to continue to be rec and irresponsible was to go off the gold standard. But nixon didn't want to do any of those things. It's not the gold standard that failed. It succeeded.
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