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"Or like banning the private buying of gold (which the US had done, from 1933 to mid-seventies" ...which proves my point! This was stupid and ultimately led to
by mrb 14y ago
"Or like banning the private buying of gold (which the US had done, from 1933 to mid-seventies"
...which proves my point! This was stupid and ultimately led to all sorts of negative economic consequences, therefore the US reverted the decision in the mid seventies. Now you are arguing that the US would somehow make the same mistake with Bitcoin?!
- jmeekr 14y agoIf anything we should realize that the government is very willing and capable of making the same mistakes over and over again..
- coldtea 14y agoIf anything, the history of government is full of governments making the EXACT same mistakes. And the reason they dropped the gold ban was less that they found that "it was stupid and led to all sorts of negative economic consequences" and more to a changing political climate at the time and Nixon's monetary policy. Things that can easily change. Btw, other governments still prohibit the private ownership of gold (except under special agreements and of course as jewelry).