/biz/ - Business & Finance

>>12430680
Why is it that the US has never suffered a financial crisis in the 19th century during the period when there was no central bank, except in the two instances when Congress had directed the Treasury to act like a central bank: during the Civil War with the printing of the greenbacks, and in 1890 after the monetization of silver? How did the US manage one of its longest periods of sustained economic growth without any financial crises between 1873 and 1890 when there was no central bank at all, and the money supply was restricted, and the price level continued to drop?

>>12256975
If this system of fiat currency is so secure, why do all central banks keep most of their reserves in gold? Why not just sell it all and keep it in fiat if they are so confident in the system? Do you not understand that the prices are raising constantly due to the expansion of the monetary supply and that our currencies are literally backed by debt. Every generation, or 35 years, the purchasing power of their currency is halved.

>>11902405
so fucking based

>>11901484
kys keynesian

>>11877833
The value of the $ is zero since it isn't tied to anything. Why do people use it? Because the Fed keeps printing money to keep it afloat but when the ship comes crashing down, good fucking luck to anyone who still has fiat tied assets.

>>11724645
When the $ finally dies, crypto will take over. You may not like it, but that's peak performance.