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To: Blood of Tyrants

Nixon had to shut the gold window in the 70’s precisely because countries actually starting demanding the gold. Same thing will hspoen here.

“Well you didn’t really think you could get gold just because we said it was backed by gold...”


48 posted on 03/30/2022 5:41:53 PM PDT by BiglyCommentary
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To: BiglyCommentary

That’s not at all how it works. The gold standard is about fixing the value of your currency, not about opening your gold reserves for purchase or tying your money supply to any actual gold reserves.

Abandoning the gold standard has more to do with the need To have inflation to offset debt and controlling the money supply to ameliorate recession.

Implementing the gold standard probably means Putin is worried about a manipulation attack on the ruble.


52 posted on 03/30/2022 6:04:14 PM PDT by hopespringseternal
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