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by FlownScepter
1942 days ago
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> We need money that has actual value that can't be manipulated. That is why the gold standard worked. At the same time that is why those in power ended the gold standard. No, the gold standard worked because at that time, manipulating the value of money to tweak the economy was not a practice. And besides-which, gold is a terrible standard anyway. We use tons of the stuff in basic, cheap electronics all the time. We use it on boutique audio connectors. It's not uncommon or rare at all. It's like diamonds, the only reason they're worth a goddamn thing is that everybody just agrees they should be, even though the same substance that sits on the end of a $10,000 ring is ground up and coats the outer surface of saw blades. > Without the anchor to gold our money can freely be manipulated for personal or political gain at the expense of the public. As we've seen though, this can be done with virtually any asset now, which is why land remains basically the only thing that holds value, because increasing or decreasing the supply of it is really ridiculously hard. |
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The gold standard is a protection against exactly the problem you are complaining about.