jsm on Nostr: The problem with IOUs for gold is that eventually there will always be an emergency, ...
The problem with IOUs for gold is that eventually there will always be an emergency, often a war. Then the government makes many more IOUs than it has gold to stay alive. This makes going back to the gold standard difficult if not impossible. Then we get fiat again.
Published at
2023-01-28 14:42:33Event JSON
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