Re:Central African Republic Adopts Bitcoin as Legal Tender
by reedjosh on Wednesday April 27, 2022 @11:17AM
(#31180965)
> and probably over a dozen cases where it was the gold standard that was lost.
This doesn't prove that the gold standard was bad for the people.
Governments grow until they collapse. That growth eventually is constrained by the inability to print gold.
This is particularly obvious if you consider that dropping gold and silver from currency is near the first thing to happen when war starts. Inflation is a hidden tax. Governments use it to continue their largess beyond what would be possible with direct taxation.
> I can think of a single case in history where policymakers decided to reverse
Everyone knows politicians are liars and cheats. Why would the actions of politicians or those appointed by them be a signal of virtue or correctness?
This doesn't prove that the gold standard was bad for the people.
Governments grow until they collapse. That growth eventually is constrained by the inability to print gold.
This is particularly obvious if you consider that dropping gold and silver from currency is near the first thing to happen when war starts. Inflation is a hidden tax. Governments use it to continue their largess beyond what would be possible with direct taxation.
> I can think of a single case in history where policymakers decided to reverse
Everyone knows politicians are liars and cheats. Why would the actions of politicians or those appointed by them be a signal of virtue or correctness?