Message from @VaingloryPvP
Discord ID: 704194251520606239
But in order to afix the US dollar to a gold value
The government would have to fix a selling price for gold
wrong again
Wha
That's what the gold standard is
You’re wrong soup.
no.
explain why price fixing would be necessary?
Y
You’re smart qwasi.
Very smart.
Its a price for gold set by the governmemt. It's how much gold the government will "convert" for a specific amount of money
That's what a standard is
Yep.
That sets the price of gold for that currency
that's not price fixing
^
Yes you're right
It's setting a price essentially
price fixing is when the govt says a pound of flour costs this much and if you deviate from that we'll chop your fucking head off
You give the government a certain amount of money and the government gives you gold back
no.
govts price fix in order to try and offset the negative of fiat currency
Your just conflating terms dude
Yep qwasi!
the money is worth less and less so the govt price fixes
^
which doesn't work
What? Price fixing is to prevent the market from over valuing basic commodities
Eh, not really.
That's literally the purpose
explain it to him qwasi.
Price is determined by the confluence of demand and supply. If there is a lot of demand and little supply the price goes up
Price capping stops that which can cause shortages
I don't need anything explained to me
It's what happened to toilet paper
Actually
Damn, you must be a genius then.
Look here , the smartest person in the world.
Ok I see how that came off