And what you found, actually, as the empire decayed, instead of having 100% silver, you actually got to the point where there was none, zero in these roman coins. And it's emblematic of what we see in the United States today. Yes, we went off the gold standard in the seventies, and there's no value really, in the paper that it comes off the presses. And the problem with that is that as people discover, as politicians discover, that there seems to, in the short run, be very few consequences for printing this cash. (16:10–16:20)
CLAIM
Asserts that the U.S. went off the gold standard in the 1970s, affecting currency value.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
