And one can not possible make the claim that he has the right to price stability of a commodity – money included. What he can do if he wants a gold standard is continuously convert fiat money into hard money holdings (which is how the oil business functions). The only reason…
Source date (UTC): 2020-04-22 20:08:49 UTC
Original post: https://twitter.com/i/web/status/1253053163709530115
Reply addressees: @judicialist
Replying to: https://twitter.com/i/web/status/1253052462656880648
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@judicialist So the problem is calculability. The gold standard created a baseline for economic calculus. The question is, what is the baseline for economic calculus in the absence of external pricing? (It’s full accounting of capital and income.)
Original post: https://x.com/i/web/status/1253052462656880648
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