3 ms·

What countries don't have a fiat money system?

• WalterBright 4y ago
  The US before 1914.
  • dalyons 4y ago
    Ah yes let’s use data from 100+ years ago from a nearly pre-industrial economy as the basis for what we should do today
    • WalterBright 4y ago
      The US economy industrialized in the 19th century. 1700-1800 would be pre-industrial. Besides, America did try fiat money with the colonial government, and again in the Civil War. Particularly in the Confederacy. Each of those instances suffered from galloping inflation. Interestingly, in each of the two gold rushes, the US had inflation due to the influx of gold.
  • confidantlake 4y ago
    That would be had. I was asking have.
    • WalterBright 4y ago
      No current country has been able to resist the lure of printing free money. They are also unified in denying that such printing causes inflation.