Taking Stick of Money Today

[peristaltor]

When last I posted, I ended our short history of money noting, among other things, that money is no longer backed by precious metals as once it "was" (I hope to make the scare quotes more salient later). Even before Pres. Nixon removed the US from the gold standard in 1971, wild swings in our money supply drove the country into a Great Depression

Comments

[alobar]

I am reminded of a post you made last year on the Wizard of Oz, the gold standard, and Dorothy's silver slippers.

[peristaltor]

Ah! You anticipate my next!

I've been reading on the topic lately enough to freshen up the material a bit.

[alobar]

Oh Goodie!

[peristaltor]

Well, the one after my next. A clarification just went up. Why should be obvious.