Gold and Money, the South Sea Bubble, Mississippi Company, Tulip futures, real estate bubbles and the list goes one with the ups and downs of currency and empire.

Humans have created bubbles of wealth for as long as money has been around. The practice of creating new currencies, devaluing old ones, attaching it to gold, detaching from gold and going to just straight paper.

The revolution paper money called continentals were a paper currency and became nearly worthless due to oversupply. The US constitution pegged the money supply to gold. The British had a long history of a gold standard and then leaving the standard to raise money to pay for wars. Then going back to the gold standard, then leaving it.

A pattern arises, with the Vietnam war, and other wars throughout history increases government spending and creates large amounts of government debts.

I am very interested to know how the US is going to solve it’s debt problems of today.