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It happened during the Great Depression (the outlawing of private gold ownership). I wouldn’t say it’s that unlikely if things get rough.
by ericd 6y ago
It happened during the Great Depression (the outlawing of private gold ownership). I wouldn’t say it’s that unlikely if things get rough.
- DennisP 6y agoYes but it happened then because the dollar was backed by gold, and the Fed needed more gold to back the new dollars they wanted to make, to bail out the economy. Now they can print as many dollars as they like. https://en.wikipedia.org/wiki/Executive_Order_6102 https://en.wikipedia.org/wiki/Executive_Order_6102