Comment Comment by JumpCrisscross > the US left the gold standard which meant currency could be created by the central bankYou have the causality backwards. We left the gold standard because we created too much currency and were facing a run [1].[1] https://history.state.gov/milestones/1969-1976/nixon-shock parent JumpCrisscross 1 year ago
You have the causality backwards. We left the gold standard because we created too much currency and were facing a run [1].
[1] https://history.state.gov/milestones/1969-1976/nixon-shock