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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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To: hopespringseternal

No one cares what the currency is fixed to if its not redeemable. Like saying you have insurace but the insurance company wont actually cut a check.


55 posted on 03/30/2022 6:16:47 PM PDT by BiglyCommentary
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