gjabbar

4 ms·

1. 1.▲
   Ask HN: Where Does the Money Come From?

   2 points by gjabbar 7y ago|2 comments
2. 2.▲
   by gjabbar 7y ago

   My first job was at a mining startup that found perhaps the best copper/gold discovery in a decade. We were ultimately acquired. It's a reality. Mines take a minimum of ten years from discovery to bring into production. This is wi
3. 3.▲
   by gjabbar 7y ago

   It's why the two used to be tied via the gold standard. Then cash became fiat and by nature short-term. Governments can't help themselves. The anecdote on the gold threads is fascinating.
4. 4.▲
   by gjabbar 7y ago

   Gold is long term cash. Sovereign funds / private wealth purchase gold as a hedge against inflation. Ie their short term cash (actual cash) being worth less tomorrow. It has this characteristic because gold fundamentally has zero yield