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0 pointscrdoconnor10y ago0 comments

A gold standard makes debt deflation routine whereas fiat money systems make it much easier to adjust to systemic capital flows.

In essence the problems faced by Greece are due to a reinvention of the gold standard despite there not being gold involved this time around.

Point being that Gold only "worked" for a small elite and it was largely devastating to the rest.

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vezzy-fnord10y ago

The problems faced by Greece are from a lack of monetary sovereignty, but to equate it as somehow being like a gold standard simply on locus of control alone sounds more like a political talking point than anything else.

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0 pointscrdoconnor10y ago0 comments

A gold standard makes debt deflation routine whereas fiat money systems make it much easier to adjust to systemic capital flows.

In essence the problems faced by Greece are due to a reinvention of the gold standard despite there not being gold involved this time around.

Point being that Gold only "worked" for a small elite and it was largely devastating to the rest.

0 comments

vezzy-fnord10y ago

j / k navigate · click thread line to collapse