> So we see that there never was a 100% reserve era in British or U.S. history. The 100% reserve gold standard that people sometimes talk about today is a fantasy.
The gold standard was never about keeping 100% reserves. It was about maintaing a peg and that technically doesn't even require you to have any gold.
> So we see that there never was a 100% reserve era in British or U.S. history. The 100% reserve gold standard that people sometimes talk about today is a fantasy.
The gold standard was never about keeping 100% reserves. It was about maintaing a peg and that technically doesn't even require you to have any gold.
[1]: https://www.forbes.com/2011/05/03/the-gold-reserve-myth.html...