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#goldstandard

10 posts2 participants4 posts today
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Ben Royce 🇺🇦

@phaedral @penryu @molly0xfff

the worst part:

the sales pitch of #crypto, as embodied in the irony that molly refers to above, is that #banks are unsafe, that the #FDIC is against you, that leaving the #goldstandard was wrong and crypto should be the standard, etc

and who buys this crap?

morons

the 2008 panic was *caused* by relaxing regulations

con men noticed fools who don't understand that think *less* regulations is the answer

then the fools lose everything

do you think they learn?

Public
skua

Been wondering about Masking and the repeated claims that gold standard, random assignment, double blind trials are needed before N95 masks should be issued to healthcare workers.

Anyone seen gold standard, random assignment, double blind trials on skin diving masks?

Or is it ok to rely on physics and engineering in such circumstances?

What's the term for demanding ridiculous sorts of evidence?

#Masking #GoldStandard #CherryPicking #BadScience

upload.wikimedia.org/wikipedia

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Ramesh #NotGoingBack

⬆️ @ajaykaul10

>> …the #BrettonWoods system.…saw the opportunity for a new international [monetary] system after World War II that would draw on the lessons of the previous #GoldStandard and the experience of the #GreatDepression and provide for postwar reconstruction… an unprecedented cooperative effort for nations…

If #Trump wins #Election2024, they will have their work cut out for them, but without #US help to fight #Techbros #crypto fantasies to take over the PostWar global monetary order.

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ZNet (unofficial)

Britain anchors the gold standard in international trade through naval supremacy.

U.S. doesn't like Britain using colonies as its private money pump + Britain almost loses a war.

Keynes proposes the #Bancor as a new reserve currency for #InternationalTrade, but U.S. has a better idea - use $.

U.S. goes off the #GoldStandard and enjoys an “exorbitant privilege” of using its own currency to buy the world’s assets.

Present day: are we living through de-dollarization?

znetwork.org/znetarticle/are-w

ZNetworkAre We Living Through a De-Dollarization?Until recently, the global economy accepted the U.S. dollar as the world’s reserve currency and the currency of international transactions. The central
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RationalWiki

The #gold standard (in economics) refers to a type of monetary system where the currency of a country is backed directly by the national gold reserves. In theory, it is possible for anyone in such a system to go to a bank and exchange a sum of money for a specific amount of gold. There is value to precious metals because as a society we have agreed that they have value, whereas paper does not have value because the gov… wait, what was my point?

The idea behind the gold standard is that it offers economic stability by limiting inflation and promoting public trust in the national currency. As such, the notion generally attracts nostalgists who want to return to the good old days. What's funny about this is that, for a bunch of market zealots, they certainly seem to be terrified of stocks or (god forbid) options, swaps, derivatives, etc. Remember, they want all that stuff to be completely and utterly deregulated.

#RationalWiki #goldstandard
rationalwiki.org/wiki/Gold_sta

RationalWikiGold standard (economics)The gold standard (in economics) refers to a type of monetary system where the currency of a country is backed directly by the national gold reserves. In theory, it is possible for anyone in such a system to go to a bank and exchange a sum of money for a specific amount of gold. There is value to precious metals because as a society we have agreed that they have value, whereas paper does not have value because the gov... wait, what was my point?
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