the ascent of money, page-12

Exactly Pug. And the relative scarcity of gold is the only thing that makes it a good store of value.

Its probably no coincidence that CB inflation targets (when they use them) hover somewhere around 2-3% p.a. which - long term - roughly corresponds to the rate at which produced gold emerges out of the ground.

But targets are one thing, actually sticking to them is ...well, no-one on this forum needs a primer on THAT!