Re:The Road from Serfdom - an interview with F.A. Hayek
by stretchwithme on Tuesday May 11, 2010 @10:21PM
(#1339945)
and yet countries have gone on the gold standard before and maintained it for hundreds of years.
many countries have also accepted having the value of their currency set to a standard beyond their control. China's was pegged to the dollar for a long time, despite its long term debasement by the US, which has lost a lot of its value since it became the reserve currency at Bretton Woods.
It turns out that gold doesn't screw you over as much as relying upon the US dollar.
many countries have also accepted having the value of their currency set to a standard beyond their control. China's was pegged to the dollar for a long time, despite its long term debasement by the US, which has lost a lot of its value since it became the reserve currency at Bretton Woods.
It turns out that gold doesn't screw you over as much as relying upon the US dollar.