In 1696 Issac Newton turned from physics to money. As the head of the Royal Mint he created a gold standard—the effect was a gold bubble.pic.twitter.com/pLPJeri1Wm
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Josh, Thus the Gold Bubble created by Newton had a great effect in building the foundations of the industrial revolution. A good bubble.
..but they also designed "cheating" into it by backing it with large mass bullion, hard for individuals to redeem. asymmetry for gov benefit
Josh, indeed. The “house” always tries to rig the system to their benefit.
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