Galt's Gulch

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  • Posted by $ allosaur 8 years, 5 months ago
    Should happen. Won't happen. Not ever again. Why? Politicians.
    The possible exception? The aftermath of a titanic economic collapse when lots of people die most likely from starvation.
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  • Posted by Lucky 8 years, 5 months ago
    There is a technical reason why pure gold is unsuitable as currency, it is too soft therefore malleable and subject to wear.
    (Apology to Rothbard if the vid which I have not watched dealt with that point.)
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    • Posted by j_IR1776wg 8 years, 5 months ago
      "...Ever since the creation of the Byzantine monetary system by Constantine in 312, its pivot had been golden solidus, a coinage whose nominal value was equal to its intrinsic value, as is proven by the Theodosian Code.[55] Solidus became a highly priced and stable means of storing and transferring values[56] Novel 16 of Valentinian III punished with death anyone who dared "refuse or reduce a gold solidus of good weight."[57]..."
      https://en.wikipedia.org/wiki/Bezant

      Actually gold coins powered the Byzantine empire for a thousand years.
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