EHM

GOLD is used as money because!

Cause y'all are retarded.

Latinum standard.

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the whole point is that currency is based of a fixed point of reference

It's rare enough to be valuable, but not rare enough to be unfeasible to produce currency out of

It's pointlesa

Now the FED wants to lower interest rates on loans to 0% so organizations who take federal loans can pay off their debt faster and get money circulating.

Gold standard is an autistic take on money

i knew it
the skeleton wars have begun

ninja it's metal or fiat

gold also doesnt corrode or tarnish naturally, making it naturally long-lasting

you'd rather have fiat?

we currently use monopoly money

We cannot have the current economy based on gold standard.

Yes

Monopoly money is fine

Because money has the value we give it

Gold or otherwise.

Changing the backing of a currency doesn't change the fact it has no real value.

Gold is seen as valuable because its just rare enough and naturally long-lasting and untarnished

https://en.wikipedia.org/wiki/Price_revolution

me when i get isekai'd

also its pretty

Also, Burma (myanmar) wants to create a unified asian currency as its the least inflated asian currency by uniting the gold supply of the asian currencies under its own. Sort of like an Asian Equivalent to the Euro but backed by a gold standard.

I never understood how bitcoin worked... I never understood what was backing it...

Moving the logical problems aroind don't resolve their existence, they just move the problems somewhere else.

https://www.youtube.com/playlist?list=PLhyKYa0YJ_5CL-krstYn532QY1Ayo27s1 this chat rn

Bit coin has nothing backing it but autism Tax Man

Nothing has to back a currency

bitcoin is self backed

bitcoin is like gold

and it crashes like a motherfucker

Its got a limited supply and no more will ever be made

It crashes from Money Rushes

eventually the price of bitcoin will stabilize

In the 19th and 20th century we realized value is something humans give stuff

Rather than something inherent to things.

Which is why fiat works fine.

People sit on bit coin till it reaches peak value, then rapidly rush the trade to convert it to cash like a bank rush during the stock market crash