News Roundup 5/24; Money -- Nature, History & Future | Yaron Brook Show
Yaron Brook Show
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Transition from Gold Standard to Fiat Currency
This chapter explores the historical transition from the gold standard to a pure fiat currency in the early 1970s, focusing on the Bretton Woods agreement, the collapse of the gold standard, and the shift to a floating exchange rate system. It discusses the concept of fiat money, its implications on the economy, including inflation, government control over the money supply, and economic distortions caused by policies like bailouts and quantitative easing.
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