That the appreciation was 0% makes a lot of sense since the dollar pas pegged to the gold. Maybe it just means that having a currency that increases in value by

That the appreciation was 0% makes a lot of sense since the dollar pas pegged to the gold. Maybe it just means that having a currency that increases in value by 7% per year was untenable since it doesn’t incentivize people to invest in more productive ventures. It’s deflationary.