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> Since fiat in the US, we have the two worst economic crashes (great depression and great recession). False. We we on the gold standard during and before the

> Since fiat in the US, we have the two worst economic crashes (great depression and great recession). False. We we on the gold standard during and before the great depression. Bank runs, panics, and depressions were of the gold standard era and have been virtually eliminated by the introduction of fiat currency. > Under gold standard, recessions were more common and smaller in impact. Also false. They were more common and bigger in impact. Since fiat money has been introduced, recessions have been smaller and shorter.

jpadkins 13y ago
which gold standard recession was greater in impact than the great depression? > Bank runs, panics...have been virtually eliminated by the introduction of fiat currency. How many financial institutions failed in 2007 - 2008? How much panic selling happened? I don't call that virtually eliminated.
- gnaritas 13y ago
  Which part of the great depression occurred during the gold standard are you finding difficult to understand? No one said anything about another gold standard recession being greater than the great depression. The great depression was one of many depressions that occurred under the gold standard. How many depressions have there been since we went fiat: answer, none. > How many financial institutions failed in 2007 - 2008? How much panic selling happened? I don't call that virtually eliminated. Then you're not looking at the big picture. I didn't say eliminated, I said virtually eliminated, which means you look at total bank runs and panics while on the gold standard vs those while on fiat. Please stop this logic by anecdote argument style, it's fallacious and intellectually dishonest. Look at the history of recessions http://en.wikipedia.org/wiki/List_of_recessions_in_the_United_States http://en.wikipedia.org/wiki/List_of_recessions_in_the_Unite...

jpadkins 13y ago

which gold standard recession was greater in impact than the great depression? > Bank runs, panics...have been virtually eliminated by the introduction of fiat currency. How many financial institutions failed in 2007 - 2008? How much panic selling happened? I don't call that virtually eliminated.

gnaritas 13y ago
Which part of the great depression occurred during the gold standard are you finding difficult to understand? No one said anything about another gold standard recession being greater than the great depression. The great depression was one of many depressions that occurred under the gold standard. How many depressions have there been since we went fiat: answer, none. > How many financial institutions failed in 2007 - 2008? How much panic selling happened? I don't call that virtually eliminated. Then you're not looking at the big picture. I didn't say eliminated, I said virtually eliminated, which means you look at total bank runs and panics while on the gold standard vs those while on fiat. Please stop this logic by anecdote argument style, it's fallacious and intellectually dishonest. Look at the history of recessions http://en.wikipedia.org/wiki/List_of_recessions_in_the_United_States http://en.wikipedia.org/wiki/List_of_recessions_in_the_Unite...