Countries currencies used to be backed by gold long ago - Deepstash

Countries currencies used to be backed by gold long ago

Countries currencies used to be backed by gold long ago, nowadays they’re only backed by governmental policy so we could agree that:

  • Good government equals to: good monetary policy and valuable currency
  • Bad Government equals to: bad monetary policy and currency losing value
  • Communist dictatorship equals to: no policy, just theft and the country’s currency becomes worthless and destroyed

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