And moving away from backed currencies has increased economic stability.
Comment on Anon describes currency
Kolanaki@pawb.social 1 month agoIt used to be backed by gold until 1971.
RowRowRowYourBot@sh.itjust.works 1 month ago
BakerBagel@midwest.social 1 month 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.
DahGangalang@infosec.pub 1 month ago
And what was the gold backed by?
untakenusername@sh.itjust.works 1 month ago
being deflationary I think
Kolanaki@pawb.social 1 month ago
Greed.