If gold was really to be demonetized, then the enormous stocks relative to flows would have to be dissipated first through consumption. |
They have, at least temporarily, demonetized Federal Reserve Notes,, by substituting chips. |
We're well over a decade into this utopia of demonetized sharing and almost everyone who does the kind of work that has been collectivized online is getting poorer. |
In an economy that only three years ago was as demonetized as Cambodia under the Khmer Rouge, people are now allowed to fix bicycles, repair shoes and sell sundries at sidewalk stands. |
But by 4 February 1797, when the mandates were officially demonetized, the revolutionary experiment with paper money was at an end. |
When Congress demonetized silver in 1893, the town was largely ruined, and the current renaissance did not begin until 1937, when the first ski train arrived from New York. |