A graduate of your College of Florida, Julia has more than six many years of encounter in personal finance journalism. In addition to overseeing information and newsletters, she sales opportunities Money’s tax coverage, which includes extensive reporting on tax credits, plan alterations as well as the IRS.
This prompted inflation, as the value of gold went down. Having said that, if the rate of gold mining could not keep up with The expansion of your economic system, gold turned somewhat extra valuable, and costs (denominated in gold) would drop, leading to deflation. Deflation was the more standard scenario for more than a century when gold and paper money backed by gold were applied as money while in the 18th and 19th centuries.
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