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The Beauty of The Gold Standard | The Twilight of Gold Series | Episode 5 (WiM150)
The "What is Money?" Show
Introduction
The drive to remove loopholes is so old, i want to bring up peel's act. Peel's act put a hard limit on the amount of currency inthe bank of england. And any notes they wanted to issue over the 15 million on government debt had to be backed one for one by metal. It was suspended in three years later, during a panic. In 18 forty seven, it was suspended in 18 66 during a panic,. or 18 57 and 18 66. I mean, it was, it was literally broken by the government three times in the next 20 years.
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