Message from @Beemann
Discord ID: 506571643808907264
That's not the same thing as having money *backed* by precious metals
The value of say, USD and the value of gold are not correlated
Sorry, I said the wrong thing to what I meant then
I meant the value of gold is an abstract somewhat fixed thing, whereas currencies are fluid and subject to change
Oh I guess you're right, there aren't any.
gold is not a fixed thing
especially when buying shares of precious metals and not acquiring the metals physically
Well, arguably the worth of gold is only equivelant to that of whatever currency you are using to purchase it
The value of gold changes depending on demand for gold, which is not fixed
Demand relative to supply, of cojrse
I dont know whether to carry on talking from the Star Trek perspective or not, I think the SciFi applications and real life are completely different of course
You guys are forgetting the role of the IMF's special drawing rights in the post-breton woods world.
SDR is backed by a suite of hard assets.
and in the event of critical monetary failure the IMF is poised to bail out any number of financial institutions.
So yeah, since the 'Nixon Shock' the connection between the USD and gold has been severed.
But it isn't as if the international financial community doesn't use gold as a hedge in the event of global economic instability.
It's a bit messed up.
One could actually argue that it isn't the USD that serves as the 'global reserve currency' any longer, but instead the SDR.
The dollar just happens to be the largest reserve percentage in the basket holding that composes the SDR.
Sci Fi isn't meant to be totally divorced from reality. Star Trek is basically "I think if it worked like this, these things would happen"
I thought we were talking monetary policy.
We were talking about money in star trek. It got a little more detailed
*I am dissapoint*.
I was challenging the notion that ST is socialist, since private property, personal possessions, wages etc exist even despite society being "post scarcity"
I was talking about Ferengi
GPL
best mcguffin
@MachoHamRandySandwich Sorry, but what you said was interesting
The difference is that with production costs basically hitting rock bottom people aren't worried about subsisting or accumulating material goods, except where scarcity is still present (excepting the Ferengi)
Picard explains it in the episode where they find the capsule with the 22nd Century frozen people as:
The economics of the future are somewhat different. You see, money doesn't exist in the twenty-fourth century.
The acquisition of wealth is no longer the driving force in our lives. We work to better ourselves...and the rest of humanity.
We need the unions to lobby for a ban on 3D printing and other replicator technologies
I wish future food making was like this https://youtu.be/w2v_lpwjKUw?t=141
They say that and then reference credits and currency repeatedly elsewhere
That's the "issue"
I dont recall any mentions of currency except by the Ferengi, if there were any I would presume DS9 would clarify the most
I think Gene Roddenberry was trying to convey a world where currency is no longer a thing, and that everyone has all their needs met by replicators and other stuff, and that social evolution has led to a ppoint where people give of their services for the sake of doing what it is they love
Right, a lot of those (if not all) were after Gene Rodenberry died I believe