Replying to Avatar Gildong.Hong

We should learn from the history of gold. Due to the physical limitations of gold, gold IOUs were used instead. And then the gold IOU became an early form of the dollar through the Bretton Woods system. The U.S. then stopped backing gold through the Nixon Shock with a lot of bullshit excuses.

It's impossible to accurately predict the future, but if no one pays attention, the same thing will happen again.

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dr.fred 2y ago

gold is abundant, not scarce

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Gildong.Hong 2y ago

Even that abundant thing gave a crazy strong power to the state. What if that scarce thing will be given to them?

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