ELI5 The Gold Standard - how Isaac Newton helped gold win over silver

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ELI5 The Gold Standard - how Isaac Newton helped gold win over silver

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What is the gold standard and how did it influence currency value historically? How did the transition from a gold standard to fiat currency shape modern economics? What led to the abolition of the gold standard in the US during the Great Depression? What impact did Executive Order 6102 have on private gold ownership in 1933? How does the US dollar derive its value without being tied to gold? What part did Isaac Newton play in helping gold become the standard precious metal of choice? ... we explain like I'm five Thank you to the r/explainlikeimfive community and in particular the following users whose questions and comments formed the basis of this discussion: ilearnrussian, lokiorin, slobbie, hemingwavy, yancy_farnesworth, luckbot, omnipotentsandwich, r3dm0nk. To the community that has supported us so far, thanks for all your feedback and comments. Join us on Twitter: https://www.twitter.com/eli5ThePodcast/ or send us an e-mail: ELI5ThePodcast@gmail.com

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