Re: How would you build a monetary system out of the 5 …
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If you use paper money as a token representing gold in a stored in a vault, would the money be redeemable in an equal value of gold? If you can’t redeem your money with gold of equal value then what value does it hold – other than representing value?
There are only 3 certainties in life….
Governments will debase their own currency.
In Roman times the government reduced the thickness of gold coins they minted, then the diameter then the gold percentage…
Paper money backed by gold is not a store of value. Look at the US dollars purchasing power since the fed got involved……..
The only thing we have Lent from history is that we don’t learn from history