Oh, yeah, Gold seems to fail miserably as a trade token in a growing economy.
However I’m not making the case that Gold should replace fiat currencies, I’m making the case that Gold is a good long term store of value in times of large political risks such as the ones we seem to be going through in the West right now (most notably in the US, though the explosion in wealth inequality and growth in the Far-Right is far from only there) as well as during economic crashes with global impact (such as what’s likely to happen when the AI bubble blows), whilst even the currencies of major stable countries are much less so.
There’s not going to be a “Brexit” impacting Gold as Brexit impacted the GBP or an end of the dominance period of the nation issuing Gold as there is sure to be for the USD.
Oh, yeah, Gold seems to fail miserably as a trade token in a growing economy.
However I’m not making the case that Gold should replace fiat currencies, I’m making the case that Gold is a good long term store of value in times of large political risks such as the ones we seem to be going through in the West right now (most notably in the US, though the explosion in wealth inequality and growth in the Far-Right is far from only there) as well as during economic crashes with global impact (such as what’s likely to happen when the AI bubble blows), whilst even the currencies of major stable countries are much less so.
There’s not going to be a “Brexit” impacting Gold as Brexit impacted the GBP or an end of the dominance period of the nation issuing Gold as there is sure to be for the USD.