They’ve been talking about it for 50 years now, and it’s been over 100 since it actually existed. Bretton woods wasn’t a gold standard, it was a dollar standard, and the fed was already playing games and rehypothecating the gold countries could “redeem” as soon as they could.
The gold standard isn’t coming back because we live in a world where shipping 10tons of gold around is too slow a form of settlement. The central banks don’t want to be constrained by some arbitrary commodity reserve, and the politicians want to be able to spend money whenever they want however they want.
Gold is useful for jewelry, and as a hedge for the bunker dwellers in the case of nuclear war. The gold standard is dead otherwise.
Tortuga / 🐢
npub1e3…0qvr5
2024-08-26 09:20:22
in reply to nevent1q…3znt
Author Public Key
npub1e3mx09yq53gyh9368qyuhfstgk8t7p5vvfcnvgwa4994y7rqg37s20qvr5Published at
2024-08-26 09:20:22Event JSON
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