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Bill D
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Global Times - Hard lessons from China's silver standard

- Charleston Voice -

Thanks for an intersting article ---specifically how it brought out the difficulties no matter what we use for "MONEY" there are pitfalls that lurk in every corner. Very interesting how inflows of silver would cause deflation and outflows would put pressure on loans.

Commented 3963 days ago

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Beginning of the headline :History will repeat, but this time around America will not be able to coin silver Trade Dollars to conduct trade with Asia. Oops. Oh, where O where did my empire go? Source: Caijing.com.cn [08:30 July 15 2009] Chinese macroeconomic historian Ray Huang used to say the Qing Dynasty never understood monetary and fiscal policy, and therefore was unable to compete against the West. In those days, monetary policy in China was essentially tied to silver, the national money standard since t... Read More

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