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brigrammer (brigrammer@poa.st)'s status on Thursday, 22-Aug-2024 03:41:21 JSTbrigrammer @dubbub @EvilSandmich @doctorsex @sickburnbro @BattleDwarfGimli @Hertz @PraxisOfEvil @TrevorGoodchild gold standard was gone in the twenties, Nixon only killed the foreign note convertibility when the UK called the greenback bluff and began converting stacks into bricks
the gold standard was removed because it slows the velocity of money and puts a severe cap on the size of the government AND businesses (and the GS even constrains things like global population size)