- Feb 22, 2017
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- #441
The original sin was to decouple our dollar from the gold standard...
That was not a sin, that was needed for more growth to be able to happen.
There is only so much gold, and tying your currency to it limits how much wealth their can be. It was fine when there was a limited number of people in the country, but as population grows it was unsustainable.
I read not long ago that if the US went back to the gold standard the price of gold would have to instantly be above 10,000 an ounce