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> The gold window was closed because gold was garbage money. The gold windows was closed because the French decided to redeem their dollars for gold, and due t
by erichocean 6y ago
> The gold window was closed because gold was garbage money.
The gold windows was closed because the French decided to redeem their dollars for gold, and due to the rampant debasement of dollars, there wasn't enough gold available to do so.
Source: history.
- arcticbull 6y agoSure and so it was garbage money; good money never had this problem yeah?
- jkhdigital 6y agoMises had a few things to say on the subject of what makes money “good” or “bad”. You might learn something if you read The Theory of Money and Credit.