WHY GOLD SILVER ETC?
Rare, non perishable, decorative, status symbol.
Generated widespread demand.
Generated value.
Low volume and weight to value.
Produces consistent weight as measurement.
So produces (better than amounts of grain) units of measure
Produces accountancy.
Produces debits and credits.
Produces finance
Produces investment in capital.
Produces combined investment in capital.
Reduces prices for all.
Until fiat currency, and the abilty to enforce it, there was no alternative.
Even now both fiat and digital are dependent upon institutions to maintain them.
So even now they remain the stort of value of last resort, with the greatest security: commodity money.
Reply addressees: @radiofreenw
Source date (UTC): 2023-09-19 18:08:41 UTC
Original post: https://twitter.com/i/web/status/1704195825704763393
Replying to: https://twitter.com/i/web/status/1704171240951579028
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