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So is the paper money in your pocket people historically traded in their gold for. Gold is objectively more inflation resistant and useful, but the paper gold c
by lrvick 3y ago
So is the paper money in your pocket people historically traded in their gold for. Gold is objectively more inflation resistant and useful, but the paper gold certificates fit in a wallet better.
Society made a convenience tradeoff.
One day the US government arbitrarily decided to not allow gold trade-ins anymore, but we had all learned to assign psychological value to this worthless paper by then and carried on anyway. Remember it is not a scam if a government does it.
Money is all fake. It is a shared delusion. If we must use "worthless" money for practical reasons, would you prefer the rate of production be set by predictable math or by whatever politicians are in power this year?