It is often said that before you die your life passes before your eyes. It is in fact true. It's called living. -Terry Pratchett
Monday, February 13, 2012
The Gold Standard doesn't Work! Now With Added Graph Goodness
The price of gold is set by the worldwide market. The price of the US dollar is determined by US centric stuff. When we were on the gold standard, interest rates would spike fairly regularly, producing widespread market disruption--people would lose everything. Here's some graphs from the website econobrowser, whichndoes a much better job than I ever could.