Prof. Lawrence H. White: The Gold Standard, Explained
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YouTubeLearn Liberty
Prof. Lawrence H. White: The Gold Standard, Explained
Before 1974, U.S. dollars were backed by a gold standard. This meant that the federal government could not print more money than it could redeem for gold. While this constrained the federal government, it also provided citizens with a relatively stable purchasing power for goods and services. Today's paper currency has no intrinsic value. It is ...
609.7K viewsMay 6, 2013
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