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And the actual evidence behind the author's claim that deflationary currencies aren't successful?

crickets

Gold has been deflationary for all of recorded history, insofar as I'm aware (ie: rate of gold discovery was slower than economic expansion), yet it seemed to work pretty well for a little while.

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>> Gold has been deflationary for all of recorded history, insofar as I'm aware (ie: rate of gold discovery was slower than economic expansion), yet it seemed to work pretty well for a little while.

Gold has been a terrible choice of currency in the past. Read about it. There are a variety of very good reasons (and probably one or two bad ones, sure) why most modern countries have decoupled currency from precious metals.

Gold didn't work very well as a currency. There is plenty of proof, but just look at the first graph in this article. http://fabiusmaximus.com/2010/09/13/21514/ Industrial production and when a country left the gold standard. Obviously clinging to the gold standard for so long was a huge mistake.

(my point is purely related to that one graph, not the rest of the article (that I have not read))

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