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I like how this St Louis Fed post blames people for banks’ failings. Flip it around. Banks irresponsibly created way more claims for gold than they had gold, kept defaulting, and lost trust. So the government made gold illegal to own for like 40 years
There was no “shortage” of gold in the Great Depression. There was an excessive amount of fraudulent promises for gold, made by commercial banks and central banks.
WordPress’d
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WordPress’d from my personal iPhone, 650-283-8008, number that Steve Jobs texted me on
https://www.YouTube.com/watch?v=ejeIz4EhoJ0
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