I think it’s weird to have prices fluctuating based on the availability of a mostly useless metal. Like, what happens when we’re in a trade deficit and another country asks to redeem all its dollars for gold, so we end up with very little left? What happens when a gold miner stumbles across a large cache of gold?
These are not theoretical questions. https://en.wikipedia.org/wiki/Great_Bullion_Famine
https://www.investopedia.com/ask/answers/09/gold-standard.asp (specifically the world war 1 part)
It’s also silly because it doesn’t grow with our economy. Eg what happens in 30 years when people have hoarded all the gold? Or hell, a random google search shows that there’s only $12T of gold in the world. You want to contract the worlds economy so much?
okokok / okokok
npub136…qgd8k
2023-07-02 06:33:58
in reply to nevent1q…4dkc
Author Public Key
npub136s4ugeftvav8ktuyp9e2vgg8qeqwanrudy2yeuy3z2w8vy2aeps0qgd8kPublished at
2023-07-02 06:33:58Event JSON
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