Uploaded April 2017 | Updated September 2026, 2 weeks ago

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Warren Mosler, father of Modern Monetary Theory, on with Steve Grumbine of Real Progressives, discussing the gold standard. Although sometimes the dates of 1971 or 1973 (when the Bretton-Woods system fell apart) for the end of the gold standard, Mosler argues here that 1933-34, when the US suspended domestic convertibility into gold, is the better date to use. Though a strict convertibility regime would limit domestic policy (see here: youtu.be/3OJFjzckZYM?list=PLZJAgo9FgHWZvuoben7kGyEH292iPmoBo), the US was able to mostly ignore these kinds of considerations because it faced very limited demand to convert dollars to gold.

Learn more about how Bretton-Woods worked here: youtu.be/ape4ZcSGCFo?list=PLZJAgo9FgHWZvuoben7kGyEH292iPmoBo

See more about how Bretton-Woods fell apart here: youtu.be/Ydo-vr9XlIQ?list=PLZJAgo9FgHWZvuoben7kGyEH292iPmoBo

Watch the whole interview here: youtube.com/watch?v=1RJP52bwmcw

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