Richest Man in France Seeks Belgian Citizenship

[Mr Khan]

SamuelRSmith said:

Mr Khan said:

Specie reserves aren't the answer either. Keeping the system in check under specie reserves requires much more vigorous government intervention than even our current floating exchange rate system (though less so than Bretton Woods).

Studies out there show that the economy was more sharply cyclical in the heyday of the Gold Standard, rather than less. You've previously espoused that the pre-civil war, pre-centralized currency system was the ideal. Unless you want a non-centralized strict specie reserve system.

When a large portion of your economy is made up of agriculture, a poor harvest can cause "cyclical" movements.

Well, I don't agree with what the author proposes. Point is, the panic can be attributed to a central bank (BUS), and state-level santioned banks

Jackson & Co. did everything they could to depower and destroy that bank, however. Likely the push was due to too little centralization or stability.