History of gold

Good stuff on the history of gold in the 20th Century: here and here.

It's funny.  If you could go back in time and tell everyone involved in the debates – about gold during these earlier eras – that gold in 2009 would be selling at close to $1000, it would be clear to them which side of the debate had the better argument – the side that wanted to maintain monetary ties to gold.  Yet now, everyone thinks otherwise.

The more history I read the more often I come across the same phenomenon.  A debate emerges and one side says that if A happens B will happen (B being something everyone at the time agrees is bad).  The other side says that if A happens B will not happen.  The latter side wins and A happens.  B then follows in short order.  Yet, when we look back on things, we all side with the latter side and consider the proponents of the former side absurd.  Being right seems to have nothing to do with popular and being considered correct in the eyes of mainstream history.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: