The Consequences Of “Worthless Cash”
Authored by Louis-Vincent Gave via Evergreen Gavekal blog,
Lesson: In the real world, ninety-nine cents will not get you into New York City. You will need the full dollar.
Bruce Springsteen, Born to Run (back when people wanted to get into NYC, rather than out of it)
The desire of gold is not for gold. It is for the means of freedom and benefit.
Ralph Waldo Emerson
INTRODUCTION
Prior to the Great War, the gold standard* reigned supreme. However, when World War I broke out, most countries…
