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Something like that happened -- in the 20th century, not the 19th. And the outcome was that the public accepted the unlinking of paper money from a specific sta
by lutusp 13y ago
Something like that happened -- in the 20th century, not the 19th. And the outcome was that the public accepted the unlinking of paper money from a specific standard of value.
- philwelch 13y ago1896 was still technically in the 19th century. http://en.m.wikipedia.org/wiki/Cross_of_Gold_speech http://en.m.wikipedia.org/wiki/Cross_of_Gold_speech
- lutusp 13y agoNevertheless, the public accepted the delinking of currency from precious metals, and modern economies would collapse if this were not true (too much economic value to be represented by existing stocks of precious metals).
- philwelch 13y agoOf course they did, I don't know why you think I'm arguing with you on that point.