Boat1
Literati Guru
- Joined
- Jul 26, 2024
- Posts
- 3,298
Inflationary?But given those resources are so finite, that would be inherently inflationary
So those unable to afford such notes would be reduced to bartering - will I have to try and sell copies of my thesis is exchange for my regal soup and shoes lol?
In the 60s (when they stopped minting them) a real silver quarter would buy you a gallon of gasoline. Today, that same silver quarter's sale price will STILL buy you a gallon of gasoline.
The same is true of the gold dollar coin, in comparison of buying a tailormade suit, from the 1800s, to present day.
I consider that to be way more stable and way less inflationary than our current fiat $$...
Granted, to back the dollars with gold today, the fractional equivalent would be minuscule, but it would still limit it being inflated at the rate it has been and is being.