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They seem to tolerate gold, and its price is more stable and it's easier to use as a currency than any cryptocurrency.
by worker767424 6y ago
They seem to tolerate gold, and its price is more stable and it's easier to use as a currency than any cryptocurrency.
- anewaccount2021 6y agoBecause governments own gold.
- vorpalhex 6y agoThere are a whole bunch of restrictions on moving gold across borders, and it's generally impractical to transact in gold for small transactions. You would have to not only carry the gold with you in useful increments, but also the appropriate assays to prove its value (which means you can't subdivide gold on the spot to make change). That makes gold less useful as a currency than cocaine, ammunition or ram sticks.
- CerealFounder 6y agoDon't underestimate the power of incumbency. Gold has been something used as an exchange commodity far before currency. Its also impractical at scale so much less a threat to the general system.