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There's a lot of assumptions built in there... but it's besides the point: n% is infinitely better than 0% for any value of n > 0. Also, the claim that "gold o
by numbsafari 14y ago
There's a lot of assumptions built in there... but it's besides the point: n% is infinitely better than 0% for any value of n > 0.
Also, the claim that "gold only became a currency when it was stamped" is wrong. The value of gold on the commodity markets today does include a value store component and none of it is stamped.
When the czar's family fled russia they didn't grab rubles, the grabbed jewels. Why? Because their currency was worth nothing but their jewels could be traded for value in a very transparent manner wherever they might end up.