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The mechanics of it are pretty simple: Congress passes a law setting an exchange rate or causing the treasury to do so, then the treasury starts exchanging doll
by Zak 2y ago
The mechanics of it are pretty simple: Congress passes a law setting an exchange rate or causing the treasury to do so, then the treasury starts exchanging dollars for gold at that rate. I'll leave whether that's a good idea to people who actually study economics seriously; most of them seem to think it's not.