4) The honest question is whether gold, ever in history served as money – and the answer is “no”. Gold coins were too expensive, and served as money-like commodities, only liquid in certain conditions, just as they do today, because the value is too high, and liquidity too low.
Source date (UTC): 2020-12-06 17:27:35 UTC
Original post: https://twitter.com/i/web/status/1335637022824931336
Replying to: https://twitter.com/i/web/status/1335637021763776516
IN REPLY TO:
Unknown author
3) Gold was valuable but not ‘money’. But did not require refinement. And too expensive for use as money. So it was just a commodity. Silver required refinement. The first money was electrum. But any metal will do.
Original post: https://x.com/i/web/status/1335637021763776516
Leave a Reply