Nicholas Conrad on Nostr: Gold is more useful for large transactions, silver for smaller ones, but the two ...
Gold is more useful for large transactions, silver for smaller ones, but the two metals fluctuate in price relative to each other, so you can't mint a silver coin that represents a static fraction of an oz of gold. Or, as a matter of fact, that's exactly what they did under bimetalizm in the reconstruction era to predictable results vis-á-vis Gresham's law.
Published at
2025-01-26 16:37:25Event JSON
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