michael94
Member
- Joined
- Oct 11, 2015
- Messages
- 2,419
But how much more useful of a store of value is it than fiat? You can't print Gold, but Gold cant farm the land, come up with society altering inventions, provides services, produce healthy children etc. Those are the things that Money is supposed to attempt to represent, and if you peg your Nation's value of everything to Gold you make your very bloodlines completely beholden to this metal which isn't even essential.It’s a store of value, unlike fiat currency which is inevitably debased by the issuing authority.
Would a country be better off if it had 1 million tons of Gold but half of it's population was unable to work. Or a similar country that had 1 ounce of Gold but with a perfectly healthy and productive population?