4 ms·
It's not clear how gold owned by the US's central bank (the Federal Reserve) translates into prosperity for the average US citizen.
by hollerith 1y ago
It's not clear how gold owned by the US's central bank (the Federal Reserve) translates into prosperity for the average US citizen.
- insane_dreamer 1y agoNot these days, but back then it did because the US dollar was backed by gold, so more gold meant the Fed could increase the money supply without devaluing the currency (==inflation).