Yesterday, I had the privilege of being a part of Rapid Fire on the Bill Martinez LIVE radio program. As you can probably imagine– exciting and a bit nerve-racking!
Topic: The gold standard
To give you a bit of background, the United States has not been on the gold standard since 1933. At that time, FDR took the country off the gold standard to be able to pump money into the economy in order to give the US a boost and recover from the Great Depression quicker than if remaining on the gold standard.
At this point in history, no country actually uses the gold standard, but many do maintain gold reserves.
*Interesting fact: other commodities have been used in history as a basis for currency. Salt for, example was used as currency in the past; thus giving us the root meaning for the modern-day term, salary.
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