The "Gold Exchange Standard"- what does it mean?Submitted by vhughes on Mon, 09/12/2011 - 18:42
I am reading Rothbard's book on "What has Government done to our Money" and I have a question regarding section IV on The Monetary Breakdown of the West. In phase III of this section Rothbard talks about the Gold Exchange Standard in Britain and the US. Can someone help me understand why Britain had to deflate their money supple to get back to a gold standard after world war I? I'm not sure I understand this section. Thanks.