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Which shows that it was the impact of pretending their currency hadn't been devalued that dragged them through a prolonged depression. Had they simply priced go
by audleman 3y ago
Which shows that it was the impact of pretending their currency hadn't been devalued that dragged them through a prolonged depression. Had they simply priced gold at its true value in pounds, they would have gotten through it as quickly as France.
- qwytw 3y agoWell yes that's why the gold standard doesn't make a lot of sense. > priced gold at its true value Which is determined how and by whom? If you let the market do it's that basically (while not technically) Fiat...