Yes, which is not a problem of material currency

Fiat currency is literally worthless

You print it to meet demand and in the process, it devalues to nothing

No it isn't because it has the power of the state backing it

Which is why fiat currencies are always tied up in corruption and bullshit

Hyperinflation only happens when you do something retarded or are beholden to foriegn pressure.

Which is, oh let me see, always.

You can't hyperinflate a material currency

Not realistically

No, not always. I mean specifically in cases like Weimar Germany.

Every economy going back on the gold standard has an economic crash.

This happened all across the world after WW2.

I wonder why, going from debt treadmill fiats to actual money with value

It's because sovereign fiat is far superior for a good economy

So what's the value of a fiat.

What is the actual value

How much does cotton paper and ink cost?

It's like the penny costing more money to mint than it's worth because reasons

The value in fiat comes from the state. It's what the state does business in, and it's what the state demands in taxes.

What is the value

What is the actual value

What is the actual value of gold?

How much?

Let's say 1 ounce

Also, the worth of material currencies is set by the fact it's literally worth a fixed amount of X, not as some algorithmic abstraction of state power and enforced value.

State power isn't an abstraction

It absolutely is

Don't pay your taxes and see how abstract it really is.

What's the exact ratio of state power between the US and UK?

What gives it the X value? How is the worth of the material calculated, I think is the question, at least the one I have

To be clear I'm not on one side or the other I just want to clarify

Worth is subjective, obviously. Lets say for instance that 1 ounce is 1 gold note. the worth of the gold is then, obviously, based on fractions or multiples of the base unit.

So the worth of a given weight of X is then basic division

Gold is no less subjective than fiat.

How would we deicide how much of X is worth how much of currency in the first place?

Fiat has no logical basic unit

You just decide X is 1 monies.

Yeah, gold's value is subjective as well.

Benis, you consistently drink the retard juice

So you arbitrarily decide the initial unit and extrapolate from there?

The point of gold-backing is not the value of gold itself, it's the basing of a economy on physical goods