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End of the Road: How Money Became Worthless
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Spikes
Posted 9/12/2021 09:53 (#9215908 - in reply to #9215100)
Subject: RE: End of the Road: How Money Became Worthless


The Bretton Wood's agreement WAS an agreement, and like all pegs failed...

We have free markets and this is capitalism that we have...it's just Governments think they can manipulate the business cycle with their politics...and that is the problem.

"Some people totally confuse gold and money. During the Great Depression, we were on a gold standard. During a decline, ALL assets will decline against whatever is money, just as money declines during a boom. You need to separate MONEY from gold or you will never understand how the economy functions and you will buy gold when you should be selling. If you do not get this one right, forget it. You are not ready to invest.

If bronze or cattle were money, they would have risen against gold. It is MONEY vs. ASSETS — not gold. Today, gold is a commodity and it is tracking the commodity group as it is tracking silver. Gold moved opposite of silver between 1929 and 1932 only because it was then MONEY. So if you think a crash means that gold will rise, you are in for a very rude awakening.

You are doomed if you cling to the idea that gold will rise simply because stocks decline. Gold was DEVALUED in 1934 since gold was MONEY. What it could purchase for $20.67 then cost $35. The government confiscated gold and moved to a TWO-TIER monetary system with gold used exclusively for international settlements, not domestic."



https://www.armstrongeconomics.com/markets-by-sector/precious-metals/gold/did-gold-survive-the-depression/

https://www.armstrongeconomics.com/markets-by-sector/foreign-exchange/the-gold-standard-fell-as-all-currency-pegs/

Sp!ke

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