79. Would Hard Money Fail in a Recession?
The Bitcoin Standard Podcast
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Countercyclical Monetary Policy Is Like Oxygen
There are no monetary recessions when you have a pure hard money, as the austrians explain. When we did have recessions on the gold standard, it was because the banks were always able to issue more credit than they had in reserve. A free market economy would not have these crises happen for economic reasons. You don't just get a recession because of stock markets collapse; there's also an inflationary monetary policy. And that leads to a big giant crisis down the line.
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