Series IV · Card 8 of 21 · THE VIENNA SEMINAR
The gold standard did not collapse. Governments abolished it in order to pave the way for inflation.
LUDWIG VON MISES · THE THEORY OF MONEY AND CREDIT · 1953
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Source
“The Theory of Money and Credit”, 1953 edition, part IV “Monetary Reconstruction”
About the author
Austrian-American economist (1881–1973) and leading figure of the Austrian School. His work on money, credit, and economic calculation deeply shaped the philosophical foundations later associated with Bitcoin.
The question on the back
How easily do you drop a rule that limits you?