During thr gold-standard era, 1GBP was around 5USD, but a halfpenny was 1/480 of a pound, so a little more than a cent. The large-format cents issued up to 1857 were similar in size to the halfpennies of the late 1700s.
Or the time Ulysses Grant ordered the Treasury to flood the gold market - temporarily tanking the US economy - in order to crush his own brother in laws market manipulation scheme.
definitely someone a few hundred years ago
During thr gold-standard era, 1GBP was around 5USD, but a halfpenny was 1/480 of a pound, so a little more than a cent. The large-format cents issued up to 1857 were similar in size to the halfpennies of the late 1700s.
Doubtful, considering money back then was pinned to something like gold or silver.Some excellent points in the replies. I withdraw my statement!
Are you under the impression that this prevented inflation somehow?
Spoiler: it didn’t.
Shhh don’t tell them about what happened after both world wars
Or the time Ulysses Grant ordered the Treasury to flood the gold market - temporarily tanking the US economy - in order to crush his own brother in laws market manipulation scheme.