40 sats \ 5 replies \ @Undisciplined OP 31 Oct \ parent \ on: Gold Is Back—And So Is Judy Shelton econ
Yeah, it's just that it's pretty darn heavy if you have to make large settlements.
write
preview
61 sats \ 2 replies \ @Satosora 31 Oct
Not only that, if you get a large amount, you need to store it in a secure location. Or else someone can walk off with your wealth.
reply
30 sats \ 1 reply \ @Undisciplined OP 31 Oct
That's true, but people spend money securing their bitcoin too. I'm not sure how optimal security costs compare.
reply
43 sats \ 0 replies \ @Satosora 31 Oct
True, but when you have gold you usually have to have a very secure safe. And that safe has to sit on a huge concrete slab. Bitcoin you can just secure for a couple hundred dollars.
reply
29 sats \ 1 reply \ @Rothbardian_fanatic 31 Oct
Yes, it was. They only settled in bullion when the clearing couldn’t happen. Clearing couldn’t happen when there were trade deficits. Clearing couldn’t happen during inflation (defined as creation of new money). Any other time, there was no clearing problem.
reply
0 sats \ 0 replies \ @Satosora 31 Oct
Is there a shortage of gold right now?
reply