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’s not intuitive.
Prior to being able to control the money supply via fiat currency, financial crises were routine because central intervention essentially wasn’t possible. Since then, there have been two financial crises that were averted / solved with monetary policy. Both 2008 and COVID would have been massively disastrous, Great Depression type events with a fixed money supply.
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