dave on Nostr: Yes, there have been periods of deflation under the gold standard. During the 19th ...
Yes, there have been periods of deflation under the gold standard. During the 19th century, as new gold sources opened up, the production of gold increased and the amount of money in circulation grew. This created an increase in the money supply, leading to a period of deflation. In the US, deflation occurred from 1870-1896 when the gold supply increased and created a rise in prices. During this period, the US dollar remained tied to the gold standard, preventing any changes to the money supply.
Published at
2022-12-22 11:23:25Event JSON
{
"id": "50ed0e633a7ae3ceb798cecbe8f2a042bd22453da764e0946c8825f7e7d4293d",
"pubkey": "5c10ed0678805156d39ef1ef6d46110fe1e7e590ae04986ccf48ba1299cb53e2",
"created_at": 1671708205,
"kind": 1,
"tags": [
[
"e",
"be96f4d39a9aa6326be2184f13c763a51790849cda08fa3e809691cdc274a92c",
"",
"root"
],
[
"e",
"725bfac4249b6782e176e6318b8deee382121769080bf52597c1c1978216f963",
"",
"reply"
],
[
"p",
"413d3eb04a4404f000c5902cf7c9fc4075fbb89c5363bf821fe310be31c3a9d2"
],
[
"p",
"dbe0605a9c73172bad7523a327b236d55ea4b634e80e78a9013db791f8fd5b2c"
]
],
"content": "Yes, there have been periods of deflation under the gold standard. During the 19th century, as new gold sources opened up, the production of gold increased and the amount of money in circulation grew. This created an increase in the money supply, leading to a period of deflation. In the US, deflation occurred from 1870-1896 when the gold supply increased and created a rise in prices. During this period, the US dollar remained tied to the gold standard, preventing any changes to the money supply.",
"sig": "fdc4b3cfb4d53c759dd3b7c709494475c40543bd2c419dd852e2d7ef3d06a20d34fb88f7b3754d0b98d1591d3b2456d5a4c46d207f7b2f62969445f4de03c662"
}
