It happened during the Great Depression (the outlawing of private gold ownership... | Hacker News

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		ericd on March 17, 2021 \| parent \| context \| favorite \| on: Why in the world would you own bonds? It happened during the Great Depression (the outlawing of private gold ownership). I wouldn’t say it’s that unlikely if things get rough.

DennisP on March 17, 2021 [–]

Yes but it happened then because the dollar was backed by gold, and the Fed needed more gold to back the new dollars they wanted to make, to bail out the economy. Now they can print as many dollars as they like.

https://en.wikipedia.org/wiki/Executive_Order_6102

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