Deficit Owls's video: The Gold Standard Mostly Ended in 1933-34

Warren Mosler, father of Modern Monetary Theory, on with Steve Grumbine of Real Progressives, discussing the gold standard. Although sometimes the dates of 1971 or 1973 (when the Bretton-Woods system fell apart) for the end of the gold standard, Mosler argues here that 1933-34, when the US suspended domestic convertibility into gold, is the better date to use. Though a strict convertibility regime would limit domestic policy (see here: https://youtu.be/3OJFjzckZYM?list=PLZJAgo9FgHWZvuoben7kGyEH292iPmoBo), the US was able to mostly ignore these kinds of considerations because it faced very limited demand to convert dollars to gold. Learn more about how Bretton-Woods worked here: https://youtu.be/ape4ZcSGCFo?list=PLZJAgo9FgHWZvuoben7kGyEH292iPmoBo See more about how Bretton-Woods fell apart here: https://youtu.be/Ydo-vr9XlIQ?list=PLZJAgo9FgHWZvuoben7kGyEH292iPmoBo Watch the whole interview here: https://www.youtube.com/watch?v=1RJP52bwmcw Follow Deficit Owls on Facebook and Twitter: https://www.facebook.com/DeficitOwls/ https://twitter.com/DeficitOwls And follow our sister page, Modern Money Memes: https://www.facebook.com/ModernMoneyMeme/ https://twitter.com/ModernMoneyMeme