29 sats \ 1 reply \ @Rothbardian_fanatic 31 Oct \ parent \ on: Gold Is Back—And So Is Judy Shelton econ
Yes, it was. They only settled in bullion when the clearing couldn’t happen. Clearing couldn’t happen when there were trade deficits. Clearing couldn’t happen during inflation (defined as creation of new money). Any other time, there was no clearing problem.
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0 sats \ 0 replies \ @Satosora 31 Oct
Is there a shortage of gold right now?
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