France pulls last gold held in US

Post by CyberDildonics » Tue, Apr 07, 2026, 1:42 AM UTC

cyberax wrote: post #278

regnull wrote: post #273

Earlier quoted context omitted.

Ok, bear with me for a moment - what if the US would use actual physical gold coins instead of dollars? Then your argument of "gold would flow out" would not hold - so the only reason for it to flow out was that the gold standard was fake - the lax money policy of the US was the issue, not the gold standard itself.

> Ok, bear with me for a moment - what if the US would use actual physical gold coins instead of dollars? You'll get a bear economy, leading to the eventual deflation and collapse. Fun fact: it was not hyperinflation in Weimar Germany that led Hitler to power but _deflation_ because of its insistence on sticking to the gold standard.

Post by cyberax » Tue, Apr 07, 2026, 2:37 AM UTC

kr1m wrote: post #322

cyberax wrote: post #306

Earlier quoted context omitted.

"Hyperinflation caused Hitler" is one of the common narratives that "everyone knows". But German economy was actually growing during the hyperinflation era and by the time of Hitler's ascension, the hyperinflation had long been in the past. I personally edited this very Wikipedia article several times, but my changes got reverted by goldbugs who want to memory-hole it. This article has a nice explanation: https://www…

Thanks for sharing. I can corroborate some of the unemployment numbers in Lords of Finance and have no doubt there was some deflation. I do think the seeds of the Third Reich were sown well before this period mostly due to the insistence of France wanting full reparations and Germany borrowing in foreign currencies. https://en.wikipedia.org/wiki/Lords_of_Finance

Post by 8note » Tue, Apr 07, 2026, 2:55 AM UTC

CyberDildonics wrote: post #321

cyberax wrote: post #278

Earlier quoted context omitted.

> Ok, bear with me for a moment - what if the US would use actual physical gold coins instead of dollars? You'll get a bear economy, leading to the eventual deflation and collapse. Fun fact: it was not hyperinflation in Weimar Germany that led Hitler to power but _deflation_ because of its insistence on sticking to the gold standard.

Fake economics to "stable money causes hitler" in two sentences. Countries used gold or metals either directly as currency or to back paper currency for hundreds of years. If their governments overspent they collapsed. Saying you need inflation or you get hitler is pretty wild.

Post by CyberDildonics » Tue, Apr 07, 2026, 3:41 AM UTC

8note wrote: post #325

CyberDildonics wrote: post #321

Earlier quoted context omitted.

Fake economics to "stable money causes hitler" in two sentences. Countries used gold or metals either directly as currency or to back paper currency for hundreds of years. If their governments overspent they collapsed. Saying you need inflation or you get hitler is pretty wild.

those hundreds and thousands of years were basically before humanity learned that prosperity could exist. no growth that whole time, other than when you go to war and expand your gold supply by taking somebody else's. the positive sum present is much better than the zero sum past

Post by atoav » Tue, Apr 07, 2026, 5:49 AM UTC

panarky wrote: post #304

RealityVoid wrote: post #286

Earlier quoted context omitted.

Gold is silly as a measure of value. It's just a piece of shiny metal. The amount of value in the world is increasing so you want to exchange medium to grow with it else you're pulling breaks on the actual economy.

Just because a social construct is silly when you think about it doesn't make it any less real or useful. A national border is silly as a physical reality; it is just a cartographic whim. These invisible lines, drawn by long-dead men, pretend that the lithosphere is fundamentally different on one side of a coordinate than the other. Fiat currency is silly as a store of value; it is just a digital ledger or a piece of…