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The market has settled on gold? For money? What? The market moved on to other forms of money centuries ago.

• Qasaur 8y ago
  This is categorically false. The gold standard (albeit a reduced version of it established under the Bretton-Woods monetary regime) was abolished in the United States as recently as 1971. In Switzerland this link was abolished in the early 2000's AFAIK.
  • sbenitoj 8y ago
    It was only loosely linked to gold even at that point, fractional reserve banking has been going on for a long, long time!
  • Scarblac 8y ago
    Yes, but using it as a symbolic backing of fiat currency is not the same as using it as money.