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No, there is no stable measure of value. Labor, for instance: The price of labor can change. Or the price of money can change. If you use labor to measure t
by AnimalMuppet 1y ago
No, there is no stable measure of value. Labor, for instance: The price of labor can change. Or the price of money can change. If you use labor to measure the price of money, you can't tell which changed.
A basket of other currencies is the best I can come up with, but that just gives you an averaged inflation rate.
- msgodel 1y agoMoney is differed labor, debt is forwards on money -> the debt market is labor futures and the dollar is backed by US GDP combined with our reputation for the rule of law (ie people expect us to deliver when other countries might give up.) Of course when you have too much open interest in a futures market you can get a squeeze and that's what everyone is worried about.