It seems like replacing "fiat" with "standard" tells you much of what you want to know. What's wrong with using standard money? What asset doesn't rise in price (above its fundamental value) from...
It seems like replacing "fiat" with "standard" tells you much of what you want to know. What's wrong with using standard money? What asset doesn't rise in price (above its fundamental value) from being adopted as a standard?
There's something to be said for using an international standard, but getting consensus to fix a broken international standard can be hard.
Good article that addresses some of the annoyances of trying to discuss finance with goldbugs and crypto people.
It seems like replacing "fiat" with "standard" tells you much of what you want to know. What's wrong with using standard money? What asset doesn't rise in price (above its fundamental value) from being adopted as a standard?
There's something to be said for using an international standard, but getting consensus to fix a broken international standard can be hard.