Posts tagged gold standard
Why Gold is Real Money, Paper is Bad Money, and Bitcoin is Not Money

Precious metals as money emerged from the market out of necessity and their value is not subjective. They weren’t given value simply by decree of government (fiat literally means let it be by decree.) The value of gold is objective. It has properties that exist in the real world that fulfill certain desires and needs. Gold was valuable for thousands of years before it even became money; fiat dollars, which I’ll get to momentarily, and bitcoins weren’t valuable at all until they became money. See the difference?

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