Message from @Deleted User
Discord ID: 324328577627586570
...because I've got another graph for that 😂
I don't know, that's also ineffective because it relies on measures stabilizing the value of a not so precious metal that is hoarded away by a group of moguls
Yas boi you get it
However, other likewise valuable objects are ineffective too
Well that and the fact that gold isn't extracted nearly fast enough to keep up with economic growth so the gold standard would be in a constant state on deflation
Of deflation*
The only way for a metal standard to work is for it to be in increasing demand and value and likewise be among the rarest metals which really means Francium or platinum
Even then that might result in pretty bad inflation/deflation
Not to mention how unstable markets are
Me graphs
It's more stable than the current standards
Also, why do we still keep our gold reserves
So while, in this case, the price of milk in USD has been inflating at a fairly slow but steady rate, the price of milk in Troy ounces of gold is rapidly deflating and was rapidly inflating prior to 2002
You can artificially create deflation and inflation with a fiat currency, but with something like a gold standard it all depends on the markets
Or the people who extract the gold
Hey guys
Well, you have to remember that gold is a luxury good that is only sometimes in demand because it doesn't have too many uses. Became more stable as they started using it in computer chips
But then dropped when the new gold finds down in Africa
Money is politics
Economic politics 😎
money is economics, was gonna say
Yeah, because people like paying for shit
I responded to yer question @Deleted User in case ya didn't see
Yup
what was your answer
Guys
Oh wait
Nvm
Communism has failed every time
Oh jeez
It's failure to innovate has lead to it's downfall
Welcome Mitt. 😂
Hello
Welcome Mitt
My a right winger
So guys, I just wanna know something
Innovation had NI hung to do with it