What is the Gold Standard? - Learn Liberty



What is the Gold Standard? - Learn Liberty

  
198,523 views
Published on May 6, 2013
Before 1974, U.S. dollars were backed by gold. This meant that the federal government could not print more money than it could redeem for gold. Learn more: http://bit.ly/1HVAtKP. 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 not based on the value of gold or anything else. Under a gold standard, inflation was really limited. With floating value, or fiat, currency, however, some countries have seen inflation reach extremely high levels—sometimes enough to lead to economic collapse. Gold standards have historically provided more stable currencies with lower inflation than fiat currency. Should the United States return to a gold standard?

SUBSCRIBE:
http://bit.ly/1HVAtKP

FOLLOW US:
- Website: https://www.learnliberty.org/
- Facebook: https://www.facebook.com/LearnLiberty
- Twitter: https://twitter.com/LearnLiberty
- Google +: http://bit.ly/1hi66Zz

LEARN LIBERTY
Your resource for exploring the ideas of a free society. We tackle big questions about what makes a society free or prosperous and how we can improve the world we live in. Watch more at http://bit.ly/1UleLbP

Comments

Popular posts from this blog

800 AIIB WORLD TRUST ACCOUNT MORE LOCATION FOUND TO SETUP YOUR ACCOUNTS.