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Liberation from Gold: Embracing Economic Growth
Dissolving the gold standard allowed the U.S. dollar to become a flexible reserve currency, essential for accommodating a growing monetary supply. The fixed nature of gold restricted the dollar's ability to expand in line with evolving global resources and goods, which were increasing in value and availability. The transition from a gold-pegged currency system, although challenging, was crucial for aligning monetary policies with economic growth and resource discovery.
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