The destruction of fiat money .... real money does OK in times of deflation.
Now we might be getting somewhere. You make a very good argument, I believe, that money which is a proxy backed by another proxy, namely gold, would be sounder in times of deflation.
Or are you saying that the paper dollar is the proxy for the gold, which is a proxy for exchangable barter.
How do you define "real" money when both are merely proxies completely dependent on human psychological and emotional feelings??
And when prices go down, it is usually because people are afraid to spend, n'est pas? There are few spending consumers, so retailers lower prices to clear inventory, even at a loss.
So since gold jewelry is a luxury item, will more people buy or sell that jewelry in order to raise cash to pay rent??
Regards,
Ron
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