Reddit reviews The Golden Constant: The English and American Experience 1560-2007, Updated Edition
We found 1 Reddit comments about The Golden Constant: The English and American Experience 1560-2007, Updated Edition. Here are the top ones, ranked by their Reddit score.
>You have seen the historic inflation rates from back when gold was currency, yes?
>Inflation went through an infinitely repeating series of boom/bust bubbles and the value of money changed wildly even over relatively short periods (ie: two or so years).
The Golden Constant: The English and American Experience 1560-2007
gold has never been the problem, but the governments who suspend payment in specie and allow banks to break contracts.
>More to the point, say China wants to manipulate the US currency for its own political gain. China has a lot of gold.
if individuals in China want to exchange their gold for American providers of goods and services, we will sell it to them. the idea that gold owners can manipulate the US or any nation for that matter is absurd. the purpose of money is to exchange it for real wealth, whatever any individual feels that may be. it is precisely because government-controlled money today is not backed by a commodity that it is manipulated on such a large scale.
governments can print paper money to infinity, but they cant print gold.