Milton Friedman compares the Yap islanders' use of black paint marks on 'fei' stones to which historical event in the United States?

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Answer

The massive spike in the US monetary base during the 2008 financial crisis

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The transition from the gold standard to fiat currency under Franklin Roosevelt.

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The introduction of the Bretton Woods system in 1944.

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The 1932 transfer of gold from the Fed of New York to the Bank of France via the "earmarking"

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