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Right but then wouldn't you just go back to standard currency?
by greghinch 13y ago
Right but then wouldn't you just go back to standard currency?
- cookiecaper 13y agoNo, because things can be sufficiently stable that people are no longer in contest over the fundamentals like food and water, but not sufficiently to have a widely-standardized currency. Gold is useful because everyone, everywhere recognizes its value independent of any other entity. This happens simply as a function of gold's rarity and manipulability; if you're looking for a natural resource to stand in as a currency, gold meets the requirements better than other materials. This is so, and will remain so despite any human ongoings.