Welp, them's the breaks. So does increasing the cost of capital.
The fact is, no matter WHAT standard we choose, somebody's going to get hurt. The only thing to do is chose the standard that does the most good for the most people most of the time.
The U.S. economy is, oh, about 8x what it was since we dumped the gold standard. I daresay the printing presses have helped made us the richest nation on Earth. In short: fiat sit!
"The U.S. economy is, oh, about 8x what it was since we dumped the gold standard. I daresay the printing presses have helped made us the richest nation on Earth. In short: fiat sit!"
And what is U.S growth on debt in that timeframe? I dare say many multiples of 8X.
As long as oil is tranacted in $US the con game can go on. When a producer decides they want something else in payment, the jig is up. Let the presses roll til then. LOL