Base Money and Free Markets | The Snider Series | Episode 7 (WiM109)
The "What is Money?" Show
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Is the Gold Standard a Hybrid Standard?
The system you're describing here were a dynamic equilibrium n full convertibility and full elasticity, right? Fiot, until you're blue in the face, don't be mad when your customers call your bluff and you go out of business. That's the free market. But there's eso, there's an elegance involved in that kind of theory. The question is whether or not it's actually practical, right? And th that's where it gets into the stickiness and complications.
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