Last I checked I'm not a bank.
Discussion
yes, and you don't issue currency pegged to your gold either so, you know, that's the whole point I was making.
Which means you are really talking about paper not gold.
With all due respect you might be naïve to how money scales. That paper you denegrate is actually a tool for commerce. The paper is gold's security flaw not an invalid claim to it. Again the Tokenization is a service that allows commerce with gold, not an inherent scam.
As an aside, it is all barter, whether advanced or primitive, you can barter with something that retains value or something that doesn't.
Functionally barter is when you trade a consumable or commercial good for another. Money has no consumable value. Its only function is to be an intermediary to represent the value of a consumable good. So the distinction between barter and monetary commerce is that very difference.
"Money printing" isn't a thing. One main property of money is that it can't be counterfeited or printed. Currency is a claim to money which can be manufactured and only the bearer of the money can decide if that claim is a valid one. The confidence game of the USD is not due to them "printing" gold claims. It is literally a fiat or by decree claim that dollars are money (they are not).
That is all beside my point which is Gold is heavy and necessitates a lighter exchange medium. That is the flaw Gold has had to deal with for 5000 years and has cause scores of countries to debase their currency. Which simply means removing the nominal peg to Gold. The economic actor decides what claims to value are valid. USD is issued by the state which has the incentive to debase the currency. When local and regional banks set their own currency pegs (prior to the savings and loan regulations added in the 90's) their incentive was to be a good custodian for their community. Anyway I hope this was edifying.
I'm well aware of what USD was vs what it became.
Rome was diluting precious metal with low value metals millennia ago, whether you want to call it "printing" or not is irrelevant, it did exactly the same thing.
Money vs Currency is a word game.
Rome's debasement was different in kind. The coin was not the ounce of metal it was purported to be. Clipping edges was a reduction in mass but sold as a full coin. This is different than printing because the gold coin still exists and was not a facsimile of another molecule of gold. The dollars are facsimiles of other dollars meant to represent a claim to money. The debasement is similar but the mechanism is different. Eventually the small six0ze of the coins would betray their mass and show the debasement very obviously.
The intent is what matters, the theft is what matters, it does not matter how you achieve it.
Being pedantic instead of focusing on how they may achieve the same in the next iteration is not helpful.
This focusing on a particular method to the exclusion of others is how you get the idiocy of legal loopholes, it's perfectly clear to everyone else that something is theft but the law doesn't recognise same.
Yo guy. You are saying inaccurate things. With each post, I correct the inaccuracy. I didn't "Umm Akchtually" you here. I just know way too much about economics to just say that coin clipping and currency counterfeiting is the same thing. They literally are not. It does matter how debasement is achieved because with coinage you can just resmelt the coins. With counterfeiting you can't tell the valid from the invalid and you can't take away the printer. So it's not the same. And pretending it's the same is what is not helpful, peace.
When you are defending against an enemy you must anticipate their strategies & tactics, you don't fight the last war but you don't forget or ignore it either.