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Give an example. The fiat currencies that people actually save in have a direct lineage from gold, or are linked to such a currency by monetary policy. Tax valu
by natrius 11y ago
Give an example. The fiat currencies that people actually save in have a direct lineage from gold, or are linked to such a currency by monetary policy. Tax value alone has never given a new currency stable value.
- dragonwriter 11y ago> The fiat currencies that people actually save in have a direct lineage from gold (1) What difference does "direct lineage" have? They aren't gold, and they aren't backed by gold. Unless you arguing that they have sentimental value from a historical association that hasn't been real for generations, this is meaningless. (2) Also, this is more true of silver than it is of gold. the gold standard was sort of a brief fad (in long-term historical terms) in the final centuries of commodity currency standards as the dominant model, while silver had dominated for a much longer time previously. Pretty much all of the extant currencies that have a "direct lineage from gold" also have a direct lineage from silver, and the ones that aren't themselves relatively new have a much longer history under silver.
- natrius 11y agoThe direct lineage matters because my point was that it's hard to convince people that a new currency is worth something. It's easy if you promise to redeem it for something people already value.
- snowwrestler 11y agoWhat lineage from gold does the euro have?