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I think it's probably worth learning a little bit about economic history before talking about the benefits of the gold standard. Before the fed was created, the

by necubi 2y ago

I think it's probably worth learning a little bit about economic history before talking about the benefits of the gold standard. Before the fed was created, the US economy was constantly booming and busting. There were recessions every few years in the 19th century [0]. Why folks are so eager to return to that era is beyond me. [0]https://en.wikipedia.org/wiki/List_of_recessions_in_the_United_States#Free_Banking_Era_to_the_Great_Depression_(1836%E2%80%931929) https://en.wikipedia.org/wiki/List_of_recessions_in_the_Unit...

monero-xmr 2y ago
The economy is still booming and busting, we just paper over it with debt like good Keynesians. The macro world is extremely nuanced. I’m someone who likes experiments. If we could give every American instant access to convert savings to gold (or bitcoin), directly in their savings accounts, it would certainly be an interesting experiment. If you have significant assets, inflation isn’t a big deal. If you are like most peasants, instant access to an asset easily protected from inflation would remove the tendency to fuck the peasants in the ass the moment the macro world gets shaky
- intended 2y ago
  The boom and bust cycle has required things like 2008, COVID, major wars, Brexit to create these booms and busts.
  - jaggederest 2y ago
    Other centuries must have been remarkably peaceful, since by your assertion they did not have bubbles, pandemics, wars, or geopolitical schisms...? It's enough to say that fiat currency, fiscal and monetary policy have papered over the worst of the excesses and explosions, you don't need to pretend like we live in unique times. Every time is unique, but history rhymes.
    - intended 2y ago
      ??? The previous argument was on the pace of boom and bust cycles. This argument is on their existence. We don't even have the same kinds of boom and bust cycles. There is no dustbowl, and we've recovered from incredible calamites well compared to the disasters in the past. Spain hasn't ended up destroying its entire wealth by finding too much wealth for example. I'm making the mistake of getting into detail with a point that is so out of bounds, its in "not even wrong" territory.
  - hot_gril 2y ago
    2008 and 2000 were caused by our own bubbles and not outside forces.

by necubi 2y ago

monero-xmr 2y ago

The economy is still booming and busting, we just paper over it with debt like good Keynesians. The macro world is extremely nuanced. I’m someone who likes experiments. If we could give every American instant access to convert savings to gold (or bitcoin), directly in their savings accounts, it would certainly be an interesting experiment. If you have significant assets, inflation isn’t a big deal. If you are like most peasants, instant access to an asset easily protected from inflation would remove the tendency to fuck the peasants in the ass the moment the macro world gets shaky

intended 2y ago
The boom and bust cycle has required things like 2008, COVID, major wars, Brexit to create these booms and busts.
- jaggederest 2y ago
  Other centuries must have been remarkably peaceful, since by your assertion they did not have bubbles, pandemics, wars, or geopolitical schisms...? It's enough to say that fiat currency, fiscal and monetary policy have papered over the worst of the excesses and explosions, you don't need to pretend like we live in unique times. Every time is unique, but history rhymes.
  - intended 2y ago
    ??? The previous argument was on the pace of boom and bust cycles. This argument is on their existence. We don't even have the same kinds of boom and bust cycles. There is no dustbowl, and we've recovered from incredible calamites well compared to the disasters in the past. Spain hasn't ended up destroying its entire wealth by finding too much wealth for example. I'm making the mistake of getting into detail with a point that is so out of bounds, its in "not even wrong" territory.
- hot_gril 2y ago
  2008 and 2000 were caused by our own bubbles and not outside forces.