Claudia on Nostr: What happens when a fiat country does business with a hard money country? 1️⃣ ...
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?
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?