I think you do understand it Skinow. But there is enough gold to introduce a gold standard and paper could be issued for 1 milligram, 10 milligrams, 100 milligrams, 1 gram, 1 ounce etc units.
The gold could be held at a secure facility. The notes could circulate.
110,000,000,000 grams of gold = 20 grams per human. At $700 an ounce, that's $500 per human. That's not enough for people to run their finances, even allowing for large creation of credit based on it. Gold would go up to about $10,000 an ounce. Silver would also become a major currency unit. As would other precious metals.
But at $10,000 an ounce, which would be about the value of it as the world's currency, gold would be very highly desirable.
Gold production would become the world's main activity, which is ridiculous. Huge ocean filtering factories would be set up, mountain ranges would be shredded. Pollution on a grand scale would take off as a vast resurgence of the mechanical world of the industrial revolution got a new lease of life.
Gold will NOT be a world currency standard.
Mq's Quid aka Qi aka Q based on cyberspace units is how it's going to be done. A Goedelian self-referential value system. A self-balancing exchange of value between free individuals and value creators.
Mqurice |
