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The Gold Standard Myth
The gold standard is often romanticized as an era of monetary stability — but the historical record tells a different story. From its fragile beginnings to its catastrophic role in the Great Depression, this episode explores why the gold standard collapsed and what replaced it. We trace how money evolved from cattle to clay tablets to gold-backed notes, and why modern fiat currency isn’t as different as you might think. Along the way, we unpack key moments: Britain’s disastrous return to gold in 1925, the gold standard’s role in prolonging the Great Depression, and Nixon’s fateful decision to…
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