Originally Posted by
freemehul
JinXy that is utter nonsense
to give you an historic example:
when the British moved towards the gold standard it wasn't a market move. It was a government decision by the British conservative politician Winston Churchill. I still consider that the worst decision he ever made, because it caused rampant deflation in the British economy and really ruined the British economy. If the British hadn't been propped up by the Lend-Lease signed by United States president Franklin Delano Roosevelt, the British would have been destitute now. Luckily Winston Churchill also made some good decisions, as a liberal he signed some labor market reform bills that helped lower the unemployment, but Winston's wisest policy ever was to defy Nazi-Germany. Churchill probably wouldn't have been able to sign that employment bill, if it hadn't been for the violence caused by the British Union of Fascists at the Olympia Rally, but heck you have to give him so credit for signing that bill at all.
all history aside, when countries move towards a gold standard it never is a market move