Comment on Anon describes currency

• DahGangalang@infosec.pub ⁨1⁩ ⁨year⁩ ago

  And what was the gold backed by?

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  • untakenusername@sh.itjust.works ⁨1⁩ ⁨year⁩ ago

    being deflationary I think

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  • Kolanaki@pawb.social ⁨1⁩ ⁨year⁩ ago

    Greed.

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• RowRowRowYourBot@sh.itjust.works ⁨1⁩ ⁨year⁩ ago

  And moving away from backed currencies has increased economic stability.

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• BakerBagel@midwest.social ⁨1⁩ ⁨year⁩ ago

  Only officially. The US effectivly dropped the gold standard in 1933 because it was making the Great Depression worse. Money was completely stagnant, and the federal worl projects FDR championed to get the economy moving again couldn’t be funded when the government couldn’t get access to more gold.

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