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| Name | Prof. Lawrence H. White: The Gold Standard, Explained |
| Video Uploader | Video From Learn Liberty |
| Upload Date | This Video Uploaded At 06-05-2013 15:22:25 |
| Video Discription | Before 1974, U.S. dollars were backed by a gold standard. This meant that the federal government could not print more money than it could redeem for gold. While this constrained the federal government, it also provided citizens with a relatively stable purchasing power for goods and services. Today's paper currency has no intrinsic value. It is not based on the value of gold or anything else. Under a gold standard, inflation was really limited. With floating value, or fiat, currency, however, some countries have seen inflation reach extremely high levels—sometimes enough to lead to economic collapse. Gold standards have historically provided more stable currencies with lower inflation than fiat currency. Should the United States return to a gold standard? SUBSCRIBE: http://bit.ly/1HVAtKP FOLLOW US: - Website: https://www.learnliberty.org/ - Facebook: https://www.facebook.com/LearnLiberty - Twitter: https://twitter.com/LearnLiberty - Google +: http://bit.ly/1hi66Zz LEARN LIBERTY Your resource for exploring the ideas of a free society. We tackle big questions about what makes a society free or prosperous and how we can improve the world we live in. Watch more at http://bit.ly/1UleLbP |
| Category | Education |
| Tags | learn liberty | currency | libertarian | libertarianism | federal reserve | what is a libertarian | fiat currency | goldbug | libertarianism explained | economy | economic collapse | public policy | inflation | gold standard | economics | gold | the gold standard | fiat money | peter schiff | economic history | the gold standard explained | what is the gold standard | gold standard system | Bretton woods system |
