Circulating Gold Currencies existed until World War I. Every Circulating Gold Currency has the disadvantage that you cannot increase the gold supply as fast as the economy might grow. Deflation could prevent the economy from booming. Therefore many nations switched to indirect gold currency by having their central bank issue promissory notes (paper money) which were linked …
Tag Archives: intrinsic money
FIAT money / Intrinsic Money
FIAT money / intrinsic money There’s no shortage of villains in the story of our current economic distress within this FIAT money system… The Fed, Wall Street investment banks, CEO felons, dishonest academics, and gutless and corrupt politicians. It’s absolutely true that many of these people belong in jail. However, the biggest villain of all is not a person, but …