The Bretton-Woods agreement was not unique to the US. Populist farmers had wanted USD to be backed with Silver, too (because they had silver on their farms). "Follow the Yellowbrick Road" in the Wizard of Oz is contextually about bimetallism and William Jennings Bryan, the Cowardly Lion.
So, if USD was suddenly also backed by silver (or lab-grown diamonds), how would that change the relative purchasing power of a dollar?
Instead it is said that we have a petrodollar (or a "narco-oil") state with large standing army to force international trade to use the most stable currency of trade; and how sensitive to the price of commodities like oil is our economic stability?
There were fewer economic calamities in frequency and severity while we were on the gold standard (when we had gold reserve-backed fiat currency), but less growth.
Anyways, which economic effects are secondary when most of economics is nonlinear in that a change in quantity X results in a change in Y results in e.g. "back pressure" on X?
Which are particles and which are quasiparticles from which emergent dynamics can emerge; which are secondary effects? Also, describe international turmoil / [false] information, and commodity prices.
Conflict/Unrest => Price Action => Price Action in other markets => Unsustainable increases in CPI and reductions in PPP
So, if USD was suddenly also backed by silver (or lab-grown diamonds), how would that change the relative purchasing power of a dollar?
Instead it is said that we have a petrodollar (or a "narco-oil") state with large standing army to force international trade to use the most stable currency of trade; and how sensitive to the price of commodities like oil is our economic stability?
There were fewer economic calamities in frequency and severity while we were on the gold standard (when we had gold reserve-backed fiat currency), but less growth.
Anyways, which economic effects are secondary when most of economics is nonlinear in that a change in quantity X results in a change in Y results in e.g. "back pressure" on X?
Which are particles and which are quasiparticles from which emergent dynamics can emerge; which are secondary effects? Also, describe international turmoil / [false] information, and commodity prices.
Conflict/Unrest => Price Action => Price Action in other markets => Unsustainable increases in CPI and reductions in PPP