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Politics : View from the Center and Left

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To: Jamie153 who wrote (474674)	6/9/2021 12:35:08 PM
From: cosmicforce	Read Replies (1) of 542147

I'm not necessarily advocating it, but it is potentially better than the world's central banks' flooding the world with fiat currency which has no intrinsic worth and may not be appropriately accounted for - I'm saying that it is not "crazy" to have an astrophysics and geologically rate-limited physically-useful commodity that is relatively rare as one basis (not the only basis) for currency. Are we to trust our private banks producing digits and debt out of thin air? The price of one ounce has bought "a high-end suit" over time for hundreds of years. If it can't then you have inflation in that market. 30 ounces would have bought you a mid-priced car in 1911. It would buy you one now. Are you familiar with the value of the lumber / gold ratio as an future economic indicator? On the pro side, gold is not reproducible and it's immutable - it is a relatively fixed quantity and hard to fake. It has more than 50000 years of immediately recognizable value (and is testable by ordinary means). On the down side, it is heavy.

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