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Comment: Re:This guy is a conspiracy theorist (Score 1) 514

by Skorgu (#20760559) Attached to: The History of the Federal Reserve
First of all, finance isn't a close partner to economics. Fiat currencies allow non-market entities to regulate market economies. Without an "artifical" currency (not that gold is any less artificial, it's just a finite shared delusion) there is no (or very little) room for long-term actors to intervene in short-term crises. With a gold standard, one rich person can control an improbably large percentage of the (finite) money supply. Or a million individuals can simply hoarde their money, reducing the supply in circulation, and the government has no easy way of resolving it, short of revaluing the currency which makes a gold standard into a slower fiat currency. Sure, fiat currencies can get governments into trouble (i.e. Zimbabwe), but gold standards can, and have gotten large economies into trouble, namely us in 1929.

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