🤯 So confusing. Let me see if I got this right: 1/ The gold standard was a way to prevent inflation and promote economic stability. 2/ Gold is scarce, but its price depends on new sources (yet to be found) or mining technology. And, by the way, it’s hyper-expensive to acquire and store. 3/ And gold is (was?) a good store of value because it’s scarce, durable, and has intrinsic value–but the intrinsic value is in function of its desirability.

🤠 Yes. Some view it as a more reliable and stable monetary system than the current fiat system.

🤪 Remind me: Why did we drop it again?

📱 Well, it is not practical in a modern, globalized economy. And the limited supply of gold can create deflationary pressures, leading to economic contraction and lower living standards.

🙃 Modern? Deflationary? But the reasons for «inflation is good for us» kinda sucked too, agree?