![They got away with it, we will never get it back [500x533 - 54KB]](https://pic8.co/sh/MJYaWR.jpg){kind=link}
that was precisely the point and why the economy was unbreakable
you couldn't spend more than you had or inflate the money supply to pay for it.
that was precisely the point and why the economy was unbreakable
you couldn't spend more than you had or inflate the money supply to pay for it.
Except from 1944 the money supply was backing the works bank and imf and huge amounts of was loaned and being called in for which USA had not the gold for
Except from 1944 the money supply was backing the works bank and imf and huge amounts of was loaned and being called in for which USA had not the gold for
not possible on a gold standard
if the money was being called in
and it was backed by gold
then
by definition, they had the gold for it
not possible on a gold standard
if the money was being called in
and it was backed by gold
then
by definition, they had the gold for it
Except. They didn't. The price of gold was fixed but due to the fist inflation the actual value of the notes it was backing dropped. So countries bought up huge amounts of it
Please look it up. I'm bad at explaining.
Except. They didn't. The price of gold was fixed but due to the fist inflation the actual value of the notes it was backing dropped. So countries bought up huge amounts of it
Please look it up. I'm bad at explaining.
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