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Because the Apollo Program happened during Bretton Woods, a period of time where America had virtually infinite money. https://en.wikipedia.org/wiki/Bretton_Wo
by partycoder 9y ago
Because the Apollo Program happened during Bretton Woods, a period of time where America had virtually infinite money.
https://en.wikipedia.org/wiki/Bretton_Woods_system https://en.wikipedia.org/wiki/Bretton_Woods_system
https://en.wikipedia.org/wiki/Exorbitant_privilege#Opposition_in_France https://en.wikipedia.org/wiki/Exorbitant_privilege#Oppositio...
- JumpCrisscross 9y ago> Because the Apollo Program happened during Bretton Woods We are still under the Bretton Woods system, more or less. Almost 2/3rds of foreign currency reserves held by central banks are held in U.S. dollars [1]. If anything, real interest rates are lower today than they were in the 1960s. [1] http://www.imf.org/en/News/Articles/2017/03/31/pr17108-IMF-Releases-Data-on-the-Currency-Composition-of-Foreign-Exchange-Reserves http://www.imf.org/en/News/Articles/2017/03/31/pr17108-IMF-R...
- partycoder 9y agoYes but the US does not allow audits on their gold reserves. They could print as many dollar bills they wanted until the Nixon shock. That ended, and as a consequence the economy is not doing as well right now. If not but because of exclusive deals (e.g: oil) it would be very hard to justify the dollar current value.