Replying to Avatar Laser

How is a #gold standard going to work on the internet without IOUs?

Who would ensure the IOUs were backed by real gold?

Why would this work this time around when it failed last time?

What would stop the State from slyly reintroducing money printing again?
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Undisciplined 2y ago

Oh the classical gold standard in Europe, it wasn’t even the state that started money printing. The bankers holding the gold couldn’t resist fractional reserve lending.

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Undisciplined 2y ago

*On

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Laser 2y ago

The State is a consortium.