This might be Ted Cruz’s worst idea
Ted Cruz has come down with a bad case of Midas delusion. Now, it usually only afflicts people wearing bowties, but the politicians those people donate to are also at risk. We can't say for sure if that's how Cruz contracted it, but the fact that his biggest benefactor is a goldbug means that we can't rule it out either.
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Why We Left The Gold Standard
Going off the gold standard gave the government new tools to steer the economy. If you're not tied to gold, you can adjust the amount of money in the economy if you need to. You can adjust interest rates. -
Gold Standard (economics)
The gold standard (in economics) refers to a type of monetary system where the currency of a country is backed directly by the national gold reserves. In theory, it is possible for anyone in such a system to go to a bank and exchange a sum of money for a specific amount of gold.
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