socialista.champagne
Region: PT
Monday 03 August 2026 15:16:04 GMT
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Pdubz 🔻☭ 🚩✊🏾 :
Ehh, gold convertibility never actually actually acted as a constraint on money creation. It was basically there for confidence reasons. If other countries were to start calling it in (for the U.S. this was France under Charles de Gaulle) then there's a bit of a crisis. It's kinda like the banking system, so long as people don't all withdraw money or move to a different bank at the same time, then the reserve system works fine but if they do it's a problem. So it's kind of a confluence of a bunch of crises: profitability, confidence and inflation that led to gold referencing being dropped and the shift into more self-referential finance, corporate admin and services.
2026-08-03 15:40:51
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socialista.champagne :
Homework: 📚 https://thetricontinental.org/dossier-de-dollarisation/
2026-08-03 15:34:35
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Woot Dad 🦘❤️🇵🇸 :
How was the British Pound different back in the British empire days?
2026-08-03 16:00:04
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Sammy kk :
Exceya analysis. we all wish the mulitcurrency architecture proposed had succeeded
2026-08-03 22:48:20
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