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The money supply grew under the gold standard, via debt-based money creation and fractional reserve banking. The currency shortages and depressions of the gold
by CryptoPunk 5y ago
The money supply grew under the gold standard, via debt-based money creation and fractional reserve banking.
The currency shortages and depressions of the gold standard era were due to government intervention in banking, not gold backing of currency: https://www.alt-m.org/2015/06/04/ten-things-every-economist-should-know-about-the-gold-standard-2/ https://www.alt-m.org/2015/06/04/ten-things-every-economist-...