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People constantly talk about the industrial applications of gold. If we end up in a place where world governments have fallen to the point where we no longer t
by blhack 13y ago
People constantly talk about the industrial applications of gold.
If we end up in a place where world governments have fallen to the point where we no longer trust their money, and have switched back to gold, what industry is going to still be around using gold?
I just don't see this.
- dragonwriter 13y agoThere's no currency backed by all world governments collectively, just currencies backed by particular world governments (usually individually, though the Euro is backed by a particular group). It's quite easy to imagine a failure of monetary policy by any one (or more relevantly, any two) of those central banks that would leave gold using industries in existence in the world, and gold in a better position than the relevant fiat currencies. If there were a single global universal fiat currency, that might not be the case, but ethereal isn't one.
- tokenizer 13y ago> If there were a single global universal fiat currency, that might not be the case, but ethereal isn't one. I think we may see this if bitcoin becomes too popular. I mean, it may be too late by then, but why not try right? Oppressors gotta oppress.