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If the European countries had wanted to be independent from the US, they would have adopted the gold standard for their currency
by usern20260720 21d ago
If the European countries had wanted to be independent from the US, they would have adopted the gold standard for their currency
- deely3 21d agoWhy? Honestly, how it will help?
- lovich 21d agolol, we(america) were the ones who fucked with the gold standard and had the system collapse due to lack of trust in the first place[1] Please explain your logic behind the idea that European countries needed to have adopted the gold standard that the US unilaterally changed the rules on, to be independent from the US. [1]https://en.wikipedia.org/wiki/Nixon_shock https://en.wikipedia.org/wiki/Nixon_shock
- mitxela 21d agoI guess he means the Bretton Woods system, where the US dollar was backed by gold and everything else was backed by the US dollar, wouldn't have existed. Everything would have been backed by gold, instead.
- upboundspiral 21d agoIf America had not forced the gold standard we might have gotten an international currency as proposed by Keynes. The idea was soundly rejected because it would have led to rapid post war reconstruction with a loss of American power (they wanted to play at empire). http://www.sofer.com/blog/keynes-on-the-balance-of-trade.html http://www.sofer.com/blog/keynes-on-the-balance-of-trade.htm... edit: some links from the world economic forum (in favor of it) https://www.weforum.org/stories/economic-growth/yanis-varoufakis-imagining-a-new-keynesian-bretton-woods/ https://www.weforum.org/stories/economic-growth/yanis-varouf...