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To: Flight55511
There is no doubting that getting away from the gold standard has lessened the frequency and severity of recessions and it’s basic Econ 101 that eventually all your gold will be taken away.

No, its made them worse. 1980s, Asian financial crisis, 2008 GFC - and what's coming in 2023 and 2024

And also - who's going to take away all your gold? Its economics 101 that if you "lose" your gold, you will have to devalue your currency to get it back.

15 posted on 03/22/2023 10:30:24 PM PDT by PGR88
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To: PGR88

I recommend you read the article I cited.

“Finally, consider a crude measure of financial stability: the frequency of banking crises. From 1880 to 1933, there were at least 5 full-fledged banking panics: 1893, 1907, 1930, 1931, and 1933. Including the savings and loan crisis of the 1980s, in the past half century, there have been two.”

In here: https://content.time.com/time/subscriber/article/0,33009,840572,00.html

This shows you the lead-up that led to either losing the backing or the gold itself.


17 posted on 03/23/2023 2:12:11 AM PDT by Flight55511
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