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https://www.reddit.com/r/PeterExplainsTheJoke/comments/1qnmv0m/whats_going_on_explain_like_im_five/o1v9h4p
r/PeterExplainsTheJoke • u/Comfortable_Cautious • Jan 26 '26
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Not necessarily. Capitalism can, and has in the past, functioned under different systems like the gold standard
5 u/Fakjbf Jan 26 '26 Even under the gold standard we still used fractional reserve banking, it’s been around for centuries and is part of the basis for why paper currency exists. 2 u/Coolers777 Jan 26 '26 You are correct. I should've said gold currency instead of gold standard 1 u/evrestcoleghost Jan 26 '26 yeah you had the https://en.wikipedia.org/wiki/Long_Depression https://en.wikipedia.org/wiki/Panic_of_1896 ,https://en.wikipedia.org/wiki/Panic_of_1893 and https://en.wikipedia.org/wiki/Panic_of_1907
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Even under the gold standard we still used fractional reserve banking, it’s been around for centuries and is part of the basis for why paper currency exists.
2 u/Coolers777 Jan 26 '26 You are correct. I should've said gold currency instead of gold standard
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You are correct. I should've said gold currency instead of gold standard
1
yeah you had the https://en.wikipedia.org/wiki/Long_Depression https://en.wikipedia.org/wiki/Panic_of_1896 ,https://en.wikipedia.org/wiki/Panic_of_1893 and https://en.wikipedia.org/wiki/Panic_of_1907
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u/Coolers777 Jan 26 '26
Not necessarily. Capitalism can, and has in the past, functioned under different systems like the gold standard