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> Gold isn't "real material" any more than paper. It's only has its value because of supply and demand, just like fiat money. If this is so, then why have plun
by dpatru 15y ago
> Gold isn't "real material" any more than paper. It's only has its value because of supply and demand, just like fiat money.
If this is so, then why have plundering governments consistently sought to replace gold with paper?
- barrkel 15y agoWhy have plundering governments plundered? The answer to your question is an implicit assumption of your question. As to governments replacing gold with paper, that seems to be correlated with economic growth and modernity than anything else. A mercantile approach to gold would be something like that followed by the Spanish with their South American possessions, mining for gold, etc. It didn't serve them very well because they didn't understand that it's not some magical property of the gold that holds value.