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sean
@swabbie.eth
your regular reminder that markets and inflation were much more volatile under the gold standard than under the Fed, which is why there were frequent recessions, banking panics, and other financial crises under the gold standard. the future of money is something better than both, because they both are shitty for different reasons.
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boscolo.eth
@boscolo.eth
There is an enormous psychological impact on society when controlling the money supply that I didn't truly grasp until I got into crypto. By adding/removing dollars into circulation the fed can keep the value of one dollar mostly stable relative to the GDP. Even if the GDP doubled in a year due to some industry booming, my Starbucks latte still costs about $5. This is very powerful.
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