From my understanding, remove from the gold standard just allows government to arbitrarily make up the value of the now fiat currency, which is why we now struggle with inflation and soaring debt.
It seems obvious that you’d want your dollar to theoretically be fixed to another medium with a readily appraisable value simply to maintain stability and prevent government corruption through manipulation of the monetary supply.
But then again, I’m no economist.
In: Economics
It wasn’t. Getting off the gold standard created the concept of inflation and it’s the cause of all the monetary issues we deal with today. From record CEO wages and stagnant workers wages to insane price hikes to interest rates. It’s all tied to inflation caused by getting of the gold standard which kept it all in check and forced government and businesses to be fiscally responsible.
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