/biz/ - Business & Finance

>>30309495
>Again, if gold was doing its job correctly, the US could have just experienced a short term minor liquidation to buy up the gold reserves and keep the country's economy healthy

America didn't have enough production to buy the gold it needed. Therefore it was spending too much and needed to reduce spending. No country deserves to enjoy a magic money tree of perpetual spending at the rest of the world's expense.

>The economy went to shit after the 50s and 60s

You mean after 1971 (https://wtfhappenedin1971.com/), the precise reason being that the U. S. left the gold standard and its financial mismanagement was exposed.

>Bitcoin is far more liquid and transferable than gold,

No, it's not. It's completely useless, not liquid at all. Read this image carefully. >>30305352 Not even 0.1% of mankind could use BTC as a currency even on the LN. BTC is broken rubbish and obsolete useless tech. Using gold as money is as simple as signing a piece of paper and saying that your currency is now convertible into gold. Then you carry on using the perfectly-efficient modern banking system. Russia and China and the rest of Asia are going to do this and there is nothing you do to stop them, and no, I'm sorry to announce that they won't give you the fruits of their labour in exchange for scamcoins.

>>30177164

https://wtfhappenedin1971.com/

>>29996069
>>29996317
https://wtfhappenedin1971.com/ is always instructive.

>>25081893
>>25081983

What has kept the system going for this long is the few remnants of capitalism which we have left, with resulting growth and technological advancement. Capitalism is so powerful that, even when you injure it by a thousand cuts it somehow keeps pressing on and creating prosperity. Society should be 3x wealthier than it is right now, but, because of Q. E., all that increase in wealth has gone to the top 1%, instead of being distributed equally. Q. E. is socialism for the top 1%. When this rotten financial system finally collapses, the collapse will be blamed on capitalism, and yet it was only the fractional bit of capitalism which remains that allowed it to continue.

https://wtfhappenedin1971.com/