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who's the ceo?
(lemmy.blahaj.zone)
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this post was submitted on 08 Dec 2024
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Memes
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Fuck it, gold standard
I am no expert but after reading all that, reintroducing the gold standard seems like a very bad idea. It just replaces one type of regular occurring crisis with another and now your food becomes more expensive when Australia opens a new gold mine.
Yeah I said it because it also prevents inflation from being controlled by the state (bad idea in any modern economy)
But this also lead to nations having way less gold than they require in order to have a currency adequately valued