Comment on Gold

DandomRude@piefed.social ⁨2⁩ ⁨weeks⁩ ago

If it were possible, the most greedy would still pounce on it: This was already the case in the 16th and 17th centuries, when the Spanish, in particular, imported so much silver from “the New World” that prices in Europe plummeted, leading to massive inflation due to higher prices for goods. Throughout history, there are many, many more examples

But hey, with gold in vast quantities, many goods would become significantly cheaper, because unlike cryptocurrencies, the material has many, very important uses.

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