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I'm not OP and won't try to give a lengthy explanation, but one key element is that by controlling the amount of money available (by adding or removing some depending on the financial environment) is how the government avoids the 'boom and bust' economy of the gold standard.

There is a misconception that governments only 'print money' and push it out, creating inflation. But this isn't true. Governments also take money out of circulation to prevent the economy from overheating.



There is an implication here that there is only one way to address the boom and bust cycle. Furthermore why is the root cause of boom and bust not addressed? Currency manipulation seems like a bandaid for a gunshot wound.


That is certainly not an implication. However one significant root was identified: a fixed amount of fiat. That is exactly what this addresses.


What do you suggest as an alternative?




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