It was just an intermediate step between the gold standard and fiat currency. Easier to destroy the gold standard if you centralize it in one country first.
The gold standard is, well... the gold standard of currencies. The only reason it's dead is because it limits government power. The only reason no economist ever supports it is because most are in the employ of governments. If they gave the gold standard a fair review it would be like Mcdonalds advertisers saying "This food is terrible for your health! Don't eat it!".
The gold standard is, well... the gold standard of currencies. The only reason it's dead is because it limits government power. The only reason no economist ever supports it is because most are in the employ of governments. If they gave the gold standard a fair review it would be like Mcdonalds advertisers saying "This food is terrible for your health! Don't eat it!".