Hacker News
new
|
past
|
comments
|
ask
|
show
|
jobs
|
submit
login
lmm
on Feb 18, 2014
|
parent
|
context
|
favorite
| on:
Bizarre Shadowy Paper-Based Payment System Being R...
Gold was used to back currency for less than a hundred years (except in Britain). Pre-1800 banknotes were never pegged to gold.
(If you were talking about silver you might have a leg to stand on).
redblacktree
on Feb 18, 2014
|
next
[–]
But didn't folks primarily use hard currency prior to 1800? Wouldn't that obviate the need for "backing?"
shitgoose
on Feb 19, 2014
|
prev
[–]
Gold didn't back currency, it
was
currency.
Guidelines
|
FAQ
|
Lists
|
API
|
Security
|
Legal
|
Apply to YC
|
Contact
Search:
(If you were talking about silver you might have a leg to stand on).