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A comment on Why Henry III's gold penny failed. Parent comment
And when it doesn't, it's a doozy, as in the Great Depression. (The fed inflated the currency while the exchange rate was pegged to gold.)
> and has the muscle to compel citizens to do it
Even in the most totalitarian countries, it leads to collapse.
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And when it doesn't, it's a doozy, as in the Great Depression. (The fed inflated the currency while the exchange rate was pegged to gold.)
> and has the muscle to compel citizens to do it
Even in the most totalitarian countries, it leads to collapse.