It wasn't just suddenly Nixon's thing

it's finitie quanity

@Justice I have a feeling the connection isn't being made

When I'm depressed I sleep in the hedge. Makes me feel safe

the gold standard is a pipe dream

Well please then enlighten me....

🌇

Except that dollars were backed by gold until Nixon

but comodity markets are commodity markets

Pretty sure the policy got changed

A lot

Over the years

And it wasn't only Nixon that messed with it

yes jack, we know. till '70s

Better market oppurtunities = lower goal value

Btw im curious.....what do you all have against globalism? all i have heard from Carl is is supposes moral stance against it.

they always act as a hedge... it's fundamental economics

he is confusing the gold standard with how gold/silver is used as hedge to insure you can absorb any loses if the market reverses direction

Gloabalism is what led to Weinmar

Dollar is gay. Get your own currency

globalism is ok tbh

Capitalism doesn't work under globalism

Both consumer and producer must be under the same umbrella for both to benefit

Why wouldn't capitalism work

Free movement of labor and capital, how could it not work if all countries are involved in some way?

Currently,the majority of producers are in another country from the consumer

this destroys the system

How do small businesses operate entirely in one area then

Only GOD can makse something for free

movement costs ENERGY and thus MONEY

i can get a 200euro phone that is like 1000 times more powerful than the whole NASA during the moon mission cause of globalism

The anarcho communist doesnt understand capitalism

Shame

and without producers being under the same roof, they don't SEE the impact of their goods

The system works in the way a national system does. Labour moves to where the highest wages are, just as we do in our own countries now

it doesn't though

it does locally

not globally

capital moves where it makes the most economic gain

The idea of supply and demand doesnt just end

it doesn't distribute the labor and capital evenly