Yes but the state held all of the gold and could make young people fight for it.. When we have our gold in our own pockets it's harder to tax it to pay for the war and therefore harder to incentivise fighting, weapons, weapons R&D etc
Discussion
On a second reading, this is a really good point for bitcoin that I hadn't seen before.
The State can always use its self-proclaimed "monopoly on use of force" to expropriate resources regardless of the currency used. But that gets really obvious really fast if they don't control the currency and can't print.
Next problem - how do we stop warmonger leaders from borrowing/issuing bonds with maturities that exceed their term of office? I'd like to have all such declared "odious debt", but I feel there might be just a little push back from institutionnal investors...
