What happens when a fiat country does business with a hard money country?
1️⃣ China somewhat unaffected by the Great Depression ‘29 due to being on a silver standard.
2️⃣ U.S. comes off gold standard ‘33 and then passes law to artificially drive up the price of silver—2x in a year.
3️⃣ Chinese silver reserves drained. Major deflation triggered.
Chinese economy implodes.
4️⃣ China goes fiat too 2 years later. 150% inflation each year for 10 years. 🤯
5️⃣ Credibiity of national government collapses alongside yuan currency. Mao Tse-Tung communists sweep in.
Comment, critique or provide more context. What am I missing here? Could this happened if it was a ₿itcoin standard instead of silver?
Claudia /
npub1th…xjv5e
2023-03-07 22:52:50
Author Public Key
npub1th3ufue6290mz7zxf6sny307u9t9deh2uq0nvenq605duns73vqswxjv5ePublished at
2023-03-07 22:52:50Event JSON
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"content": "What happens when a fiat country does business with a hard money country?\n\n1️⃣ China somewhat unaffected by the Great Depression ‘29 due to being on a silver standard. \n\n2️⃣ U.S. comes off gold standard ‘33 and then passes law to artificially drive up the price of silver—2x in a year. \n\n3️⃣ Chinese silver reserves drained. Major deflation triggered. \nChinese economy implodes.\n\n4️⃣ China goes fiat too 2 years later. 150% inflation each year for 10 years. 🤯\n\n5️⃣ Credibiity of national government collapses alongside yuan currency. Mao Tse-Tung communists sweep in. \n\nComment, critique or provide more context. What am I missing here? Could this happened if it was a ₿itcoin standard instead of silver?",
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