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America is still on the gold standard in that you can theoretically exchange an American Gold Eagle worth $2800 for $50 at a bank. What the end of the Bretton W
by Aunche 2y ago
America is still on the gold standard in that you can theoretically exchange an American Gold Eagle worth $2800 for $50 at a bank. What the end of the Bretton Woods is really means is that the government is unwilling to sell you an oz of gold for $50 anymore. A law that mandates the government to shoot itself in the foot is a bad law.
It's not countries can't otherwise be fiscally conservative. Germany's debt to GDP ratio is about the same as it was 20 years ago.
- rbanffy 2y ago> What the end of the Bretton Woods is really means is that the government is unwilling to sell you an oz of gold for $50 anymore Was there a law forcing the government to make gold coins? What it meant is that I would be able to give $2800 to the Fed and get the equivalent amount of gold at a valuation given by the number of dollars in circulation, divided by how much gold the Fed held. > Germany's debt to GDP ratio is about the same as it was 20 years ago. They also don't spend massively on their military.