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The exchange rate for gold (i.e. the interface of an economy with the material) can crash, not gold itself, thus the inherent value. That was my point, sorry if
by hans1729 4y ago
The exchange rate for gold (i.e. the interface of an economy with the material) can crash, not gold itself, thus the inherent value. That was my point, sorry if that wasn't coming across.
>If the world crashes so far that gold is a meaningful proportion, will there be much to transact at all?
This is where I start speculating, but couldn't we just create an arbitrary new currency and tie it to gold?
- gumby 4y ago> This is where I start speculating, but couldn't we just create an arbitrary new currency and tie it to gold? How is that different from using the gold? i.e. has the same limitations. There are rational reasons for the gold standard having been dropped.
- XorNot 4y ago> The exchange rate for gold (i.e. the interface of an economy with the material) can crash, not gold itself, thus the inherent value. What do you think this means? Because gold is only worth what you can trade it for - the exchange rate. It has no "inherent value" - you don't eat gold.