[QUOTE=MS Fowler;1982658]
Quote:
Originally Posted by DieselAddict
I did think about what I wrote. If the Gold Standard was a good thing, why did the whole world abandon it?
In my opinion, the US abandoned the gold standard because it would not allow the politicians to simply print more money to pay for their political promises and social programs.
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That's not how they phrased it.
They said, correctly, that a standard is too rigid (duh) and that modern finances required greater flexibility.