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Gold isn't confusing, it just doesn't work so great for the economy as money. Money is more complicated than just being a token that you can own.
by FastMonkey 5y ago
Gold isn't confusing, it just doesn't work so great for the economy as money. Money is more complicated than just being a token that you can own.
- eru 5y agoGold makes for a decent enough unit of account. Money that's based on gold and redeemable into gold on demand worked fairly well in history. (Do note, that different from using gold directly for all transactions. And also different from the interwar gold standard or Bretton Woods, were private individuals did not have the right to demand redemption.)