4 ms·
>Here [1] is a graph of inflation. We've had increasingly accelerating inflation, especially since 1971 [2]. That's the end of Bretton Woods, or the date that t
by Aunche 4y ago
>Here [1] is a graph of inflation. We've had increasingly accelerating inflation, especially since 1971 [2]. That's the end of Bretton Woods, or the date that the USD became completely unbacked by anything - enabling the freedom to arbitrarily "print" money.
You have it backwards. Ending Bretton Woods didn't cause inflation. Inflation caused the end of Bretton Woods. If you zoom into the period before 1971, you still see plenty of inflation. If the government wants to stop its deficit that forces it to "print money", it needs to stop its deficit. Forcing the government to give a fixed quantity of a shiny yellow metal in exchange for a green piece of paper isn't going to help with that. All that does is ensure that the government will instantly give up all of its shiny yellow metals.