Watch the whole 19-minute interview at [ Ссылка ]. Pierre Jovanovic (jovanovic.com) explains to the GoldMoney Foundation how the Directory abandoned fiat money and Napoleon established a firm gold standard that lasted until WWI, over 100 years. The French government, among others, abandoned gold when war broke out since it found itself unable to pay soldiers in real money, resorting to paper once more. Pierre talks about how gold coins from the Latin Monetary Union are still worth their weight in gold, unlike paper currencies of the past which have returned to their intrinsic value: zero.
