Don't be silly...that would be a global, financial dislocation event that would likely usher in WW3. It would mean the dissolution of the greatest superpower the earth has ever seen. And anyway, you can't use gold as a literal means of transaction it is just not practical...by the push of a button, a new york banker can by a barrel of oil in Russia, all through digital 1s & 0s...it takes milli-seconds to transact. It's what makes markets efficient. With gold...you have to ship physical gold for that bartel of oil..right? So, a month later your gold arrives? What nonsense.
And then other people say, it's a fiat currency order still, but pegged to gold. Also nonsense. What's to stop a country from printing their fiat relative to gold? You still get debasement & inflation. In the end all there is, is the economic and military strength & size of a nation, relative to it's peers, that will support it's currency amd how much it can print. Tjis whole gold bug nonsense, has been tried...many times before, and each time throughout history, human society has become too complex for gold and moved to fiat.
MKR Price at posting:
29.5¢ Sentiment: Hold Disclosure: Held
