Main Motorcycle: 2010 Bonneville T100
Join Date: Mar 2010
Location: Philadelphia, PA USA
Other Motorcycle: 2007 150cc Retro-scooter
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And why would you want your money based on a commodity that another country can manipulate? Heck, even the gold standard is still "fiat money", as gold is only valuable because most people agree that it is.
Gold's only intrinsic value is it's relative scarcity. It is very easy to create a glut on the market. As an example, imagine what would have happened had we been on the silver standard when the Comstock Lode was discovered. And that leaves aside hoarding and manipulation. Look at how DeBeers manipulates the diamond market. Any commodity based money has the same problems.
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