Moving away from the gold standard was a very risky move, and everything could have collapsed at that moment. They moved away from the gold standard because they didn't have a choice, even though it's what they wanted to do all along. I also think that there is a certain amount of patience required, on their part. If the Fed took over an…
Moving away from the gold standard was a very risky move, and everything could have collapsed at that moment. They moved away from the gold standard because they didn't have a choice, even though it's what they wanted to do all along. I also think that there is a certain amount of patience required, on their part. If the Fed took over and then they immediately took us off the gold standard, trust would have evaporated. They needed to sit back and become part of the background for a while before doing any major changes.
Moving away from the gold standard was a very risky move, and everything could have collapsed at that moment. They moved away from the gold standard because they didn't have a choice, even though it's what they wanted to do all along. I also think that there is a certain amount of patience required, on their part. If the Fed took over and then they immediately took us off the gold standard, trust would have evaporated. They needed to sit back and become part of the background for a while before doing any major changes.