Believe It Or Not, The World Is Beginning To Lurch Forward To A New Gold Standard
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- čas přidán 24. 04. 2024
- Steve Forbes explains that despite widespread and long-held contempt by economists, the gold standard is making a definite comeback-and this is stellar economic news for everyone.
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It was a stupid idea to abandon it in the first place, look where we are now.
Nixon - it was only temporary!
Not stupid if it gives you unlimited spending by indebting the sukkas .
Buy bitcoin, thank me later. Or don’t I don’t care
Substitute the word "criminal" for
" stupid" and your comment would be correct.
There's not enough gold to satisfy the economic expansion the worlds witnessed since 1971. Gold is extremely restrictive and generations past used to fight to try and get the country off the gold standard. ' man shall not be crucified on a cross of gold' remember. Williams jennings bryant almost won the election off that single platform alone. Gold is extremely restrictive and is likely to be cornered by a few individuals.
Fiat = debt ponzi
Gold = real money
Steve Forbes = based
bitcoin == better gold
Central banks like gold
@@Paul-jp8zz until the power shuts off or your wifi goes out... than your "gold" is stuck in the twilight zone with no way to access it... physical gold can't be beat
@@twistyy999 my friend, if the power and internet are shut off in such a way that bitcoin stops running, that means grids and innerwebs worldwide have been damaged and shut down. In this case, bitcoin is the least of anyone's worries, and gold is useless. You will need guns and ammo more than anything else.
Do you really think that gold will help you if suddenly the world is without power and internet for an extended time? i.e.. this is not an argument against bitcoin.
Barring Armageddon, we live in an almost entirely digital world today in so far as finance and value transfer is concerned.
Gold is a chemical element but not money.
Preach. 👍🏻 Buy real gold, not paper pretending to be gold. “If you don’t *hold* it, you don’t *own* it.”
Hold it and get robbed.
@@MikeStJacques hold 'paper gold' and get robbed when they say it's just paper. Lead is a precious metal too
Said every poor person in the last 100 years. Gold is trash.
@@pauls3075 How's that working for ya?
Your thoughts on Bullion Vault ?
Gold is the money of Kings, Silver is the money or Gentelmen and Bartering is the money of Peasants. Choose wisely
And debt is the money of slaves
Fiat paper the money of irresponsible fools.
Whenever there is a real depression, people aren’t able to eat gold. They aren’t able to plant gold. They aren’t able to hunt with gold. Invest in yourself and utilities/necessities
Debt is money of slaves.
Food bartering may be consodered gold during crisis
Good idea to go back to the good standard. We can’t allow some politicians and bureaucrats to reduce the value of our holdings by printing more dollars anytime they want.
The gold standard is just as prone to manipulation as fiat.
@@Art-is-craft Much harder to do if your paper money is actually equivalent to gold, which was the case pre-1930s. You could in those times walk into a bank and exchange your paper money to gold.
If you remove ability to print dollars you just giving away one of the tools to control economy. Government will have to raise taxes instead, which will be slower as they will need to figure out which taxes to raise, how will it affect whole economy, who to tax and why, etc. Also it will be less popular and can cause unrest.
@@sturmeko charlatans and keynesians always talk bad about gold standard, but it really worked in 19th century, as Steve said we had up then the greatest economic development in history of human mankind.
@@ZombieCSSTutorials
Gold backed money is gold that is represented by paper. It has all the same manipulations as a weakness.
I was told to spread my money across different things like stocks and bonds to protect my $750k retirement savings. Now, with the markets being shaky, should I keep adding money to my portfolio or consider other options?
Absolutely! Having a financial expert has been a game-changer for me. They provide tailored advice that takes into account my unique financial circumstances, which has helped me make informed decisions and avoid costly mistakes.
Thank you for sharing your positive experience! I've been contemplating seeking the guidance of a financial expert myself, but I wasn't sure where to start. Do you have any recommendations on how to find a reputable financial advisor or firm? I'm particularly interested in someone who can provide personalised advice and help me develop long-term strategies for financial growth. Any insights you can offer would be greatly appreciated!
Exactly, having a financial expert by your side is invaluable due to their ability to provide personalised advice tailored to your specific financial situation. With their expertise, they can help you navigate complex financial decisions, Optimise your investments, and develop strategies to achieve your long-term financial goals.
Oh yeah that's true, Dustin Dwain King is also the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
Ok bot
The great depression of 2030 seems more real everyday
lmao it’s impossible to predict one week away from now, let alone the events at 2030
It's happening this fuckin year 2024 buddy.
It's The Great Reset, enjoying it yet?
@@microfarming8583 I'm already forming a militia.
‘Envy of the World’-U.S. Economy Expected to Keep Powering Higher
Economists lift their growth forecasts in latest Wall Street Journal survey
WSJ: April 14, 2024 5:30 am ET
It's inevitable. All fiat currencies are doomed to fail.
Historically speaking, that statement is true
@@chalermako
Wrong
Gold has over 4000 proven years as being money
If you actually know and research history you would know that currencies fail when they were removed from the gold standard.
The gold standard did not fail the removal from the gold standard is what failed
@@user-sj7fu6es3y Suspending convertability to gold is failure of a metal backed currency.
The reason fiat works is because of the “full faith and credit” of the US government. I for one have lost all faith in the US government. When that feeling becomes common knowledge, it’s over.
Good
I love precious metals. Gold, silver, and copper jacketed lead.
Infinite shiny rocks = infinite money supply.
Lol, the lead is the best one.
They can’t print gold
They can find new mines
@@thelostandunfounds Yeah, but it takes a lot of effort and resources. Plus gold is scarce...
@@Kryoven lol gold is abundant. The supply is artificially controlled. Bitcoin.
I should say, study Bitcoin.
Good
Gold must be the standard forever.
Ohhh worrisome that Forbes is the one saying this and not some gold seller
Gold sellers know what central banks are just relaizing. That is the dollar days are numbered.
I met this man many years ago when he ran for president. His wife, Moira, even shared her favorite homemade mac & cheese recipe with me. They were nice folk
There is nothing to fear, only to understand.
More good news for Russia
That’s why I clicked...
I never saw a gold mine say, "Hey, lets do some quantitative easing." If you look around today and see many central banks loading up on Gold and other precious metals, that should be a clue. Of course, if you don't hold it in your hand, you don't own it.
They are buying bitcoin too.
19th Century economics is great, right?
But you have seen the earth deposit hundreds of tons of shiny rock at a time. The earth can issue new gold ANY TIME it so chooses. It's not nearly as rare as you think it is. Hundreds of tons found in Russia, Hundreds of tons found on the African continent. Not just over time I'm talking one time deposits just found out in the open. Literal mountains of gold.
There are plenty of mines that have said, "Okay, let's shut this mine to keep the price of this stuff high." Look up DeBeers.
After delinking gold and currency systems, all the governments freely started printing their currencies for overcoming temporary economic problems . The U outrageously printed huge sums of USD during the pandemic. This has affected most of the countries which used USD as the reserve currency. Secondly, the decision of the US to appropriate the interest on Russian dollar assets has shattered the confidence of the other countries in USD.
Thank you for this insightful commentary. With retail physical gold sales becoming more popular even in the USA, it does appear that the US dollar is losing credibility. The printing of $4 trillion new dollars every year for the past 3 years might have something to do with that. The United States needs a gold standard.
Buy bitcoin, thank me later. Or don’t I don’t care. It’s just better gold.
past 3 years, been happening since the 70s. Don't forget the silly $700/week for unemployed in 2020 along with PUA. 8.4 trillion added from 2017-2020.
@@TheKhmercha That 2018-2020 was due to the Covid "stimulus" money printing that did more harm than good. And that "stimulus" has been maintained for this past 3 years nonstop, a Trillion dollars a quarter. Covid is over. Enough "stimulus" already. Go back on a gold standard and balance the books.
If Steve Forbes were running for president in 2024, I'd vote for him.
If there were a trustworth institution where I could send fiat to buy gold at spot, and then use a debit card which would sell from my gold to pay in fiat, I would do it in a heartbeat. The company could keep my 2-4% "credit card" transaction fees for their trouble.If that weren't enough, they could buy at ask and sell at bid and keep that spread too. I'm sure there are billions of us out here who are tired of always losing to inflation.
Go to a local coin shop !
You’ll buy at spot plus a small premium , and sell at spot .
There you have it …
Gold is not a good currency.
@Art-is-craft it is so much better as preservation of value, it is not day to day currency
This is EXACTLY what I do through Alpine Gold Exchange and the United Precious Metals Association. Check out their Goldbacks option.
Dealers can’t sell at spot, that is what they pay. There is a premium so they can stay in business.
Greaaaaaaaaaaaaaaaaaat no more printing dollar
Buy bitcoin, thank me later. Or don’t I don’t care. It’s just better gold. More stable than USD for sure
Not bitcoin...xrp. it replaces the dollar for cross border payments between banks.
zimbabwe of all places is going to do the most sane thing and return to the gold standard. Funny, and good for them. I hope the european governments get their heads out of their asses soon so we can return to the gold standard as well.
They will, however, keep their heads stuck in there, and walk off of their own cliff. With a bit of pushing from our side. 😅
😂@@erikvalkman9640
- won't happen because it would reduce the politicians' power.
@@peterwulff469 I agree with you 100%. This is why cryptocurrencies are such a gift.
@@dionvanhezewijk5390 - the politicians will stop cryptocurrencies when they start rolling out CBDCs.
Fiat money was never a good idea.
Why did it work so great for decades then?
I mean after the 1980s it worked wonderfully for almost 40 years.
True, because when you keep on printing your own money without any form of restraint, the urge to spend becomes uncontrollable.
@@gilsonsangulukaniphiri5018 Fiat money still depends on trust, just like gold.
And there are quite a few counter examples of countries Like Germany that are being fiscally responsible.
@@egal1780 And hard money worked horribly in the 1930s.
@@egal1780 OMFG. I don't want to argue for a gold standard, but you might want to read up on the financial history of Germany in the 1920s.
Simple the top borrowing more and more, forcing the bottom to pay for it!
Thank you Mr. Forbes for explaining this to us
US and the West: Oh 💩!
Buy bitcoin, thank me later. Or don’t I don’t care. It’s just better gold. More stable than USD for sure
In Gold we trust
That worldwide debt/GDP ratio was the real shocker in this video.
I LOVE GOLLLLLLLLLLLD !!!!!!!!!!!!!
Buy bitcoin, thank me later. Or don’t I don’t care. It’s just better gold. More stable than USD for sure
@@Bhgjjj you can study it. Or you don’t. That simple.
We are facing a 44 percent increase in capital gains tax. The government will hold gold not individuals.
That is a 44 percent RATE - not increase, plus if it's an unrealized capital gain tax - WOW!
Funny how we pine for the good ole days before we went off the Gold Standrd but shriek in horror when we discuss going back to a tax structure that supported those good ole days when tax rates in the US were WAY higher
@@asommer518 So high taxation is the way out of this mess? NOT smaller government? Not less regulation (ie forcing a shift to a 'green new deal' that has failure printed all over it)? Boondoggles such as government backing of student loans, then forgiving them? And by the way, a tax on unrealized capital gains has never been implemented in the US. And unless you're writing from the UK, I'm afraid tax rates were NEVER as high as what's being proposed when you add in state taxes here in America. Now if you lack initiative and happen to be a fan of Karl Marx (ah, good thing Engles' dad had money), or have always longed for 'Atlas Shrugged' to become reality, then sure, your musing makes sense. Maybe we'll meet up when we go to cash our Universal Basic Income checks!
lol. you think the rich will approve this? who do you think puts the politicians in power. us? we choose war with Russia and millions of illegals? no. what we say makes no difference.
Mark this day and these words, this doesn't happen often.
The world's GDP is wayyy to large to be based on GOLD. There is clearly not enough GOLD to support it.
Maybe if you throw in other precious metals, silver, platinum, palladium, iridium, rhonium and copper and nickel
He couldn't be more wrong if he tried. There is nowhere near enough gold on earth to support our global economy. We'd have to mine the asteroid belt.
@@stevechance150 Agreed. Steve has lost his mind. Not possible at all. Unless you make a NEW currency based just on Gold, but you'll have to trust a coutnry to actually hold the gold for you. Not going to happen. Ever.
You two must be very young , as I once was . No disrespect ; I wish that I was both your ages . HOWEVER - for over 5,000 years gold has been a tier 1 asset , and forever will be . There is not a lot of gold to be mined - but billions of dollars are spent annually to mine this very precious metal . This will continue . He was speaking about “ the gold standard “ , and there is where you both missed his point . Read what was The BRETTON Woods Agreement of 1944 , or if you ask me respectfully ; I’ll explain .
Don’t hate the player …
@@stevechance150 BRICS is already in the process of doing it, and they have more than half of the world's natural resources and population. Never say never.
Its about damn time
If India can pull off a Indian gold backed bond- it will certainly make attracting global investment into India a lot easier-
Gold ETF corpus for top 10 Indian issuers on March 31, 2023: USD1.8b
Sovereign Gold Bond 2.5% corpus in 2021: USD4b
Making India safe also can do that.
It's the fastest growing emerging economy. Don't worry India doesn't need any help attracting investments
@@crypto_que It is losing them just as quick.
The Indian middle class holds an avg 100 gms gold per family. Looks little now , wait for 5 years.
Someone in the comments alluded to gold being possibly confiscated here in the US. Which makes no sense since 99% of the population doesn't own any gold. Meanwhile, most of the rest of the world understands the value of holding on to the yellow metal. Between things like Apple Pay and online banking, the US citizen has been trained to think there's no need for something physical to complete a transaction. Then again, give most of us a shovel and a pack of seeds, and we'd sit down and EAT the seeds....
source?
@@Oceansta ever seen an Indian wedding ?
@@parthakaarjun Wow. Great source 👍🏼. All the academic researchers should just burn all their certificates then.
I'm curious....how exactly did you arrive at this number of 100 grams? 😅
@@parthakaarjunAll lent by the millions of family members they have 🫣
Gold standard also forced discipline on government spending and there was no trade deficits under the gold standard. Prices were stable and great wealth created.
Obviously there was inflation under the "gold" standard between the 1920s and 1970s when the dollar was devalued from being 1/20th of an ounce to being 1/35 of an ounce - only available to national banks, until the US repudiated that exchange.
Trust Gold and Gold backed only...Don't Trust Paper controlled and devalued by others.
Printing 15 trillion dollars over the course of 3 years is bad for our health.
That weird feeling you get when you realize gold only has value because people say it's always had historical value.
How will we verify the gold backing this currency truly exists? We've tried before and it wasnt allowed.
it’s just an excuse to reset it will all lead to the same thing again
Currency that is backed by GOLD and REDEEMABLE ON DEMAND. 🇺🇸
Buy bitcoin, thank me later. Or don’t I don’t care. It’s just better gold. More stable than USD for sure
There's not enough physical gold that can match that kind of demand.
One thing opponents of the gold standard don't realize is that a gold tied currency does not have to be backed by physical gold holdings. A serious and sincere promise by the issuer would be as good. If banks issued gold-tied currencies and made real effort to keep its price as stable as possible, that will be sufficient. Particularly, if those banks are backed by large entities like the EU or BRICS.
This was great!
This old man lived more than half a century. he witnessed so many changes over time until now. Like it or not, he's saying something we can't reach. to the younger generation, he was just an old man who talked too much. but believe me, this old man have a lot of bitter and sweet experiences of life from old technology to today's modern technology.
WHAT?
@@historyiwitness5915 Because the world's GDP is wayyy to large. There is clearly not enough GOLD to support it.
Maybe if you throw in other precious metals, silver, platinum, palladium, iridium, rhonium and copper and nickel
lol bro is reading a script you can see where his eyes are looking at 😂
There is over 100x more Gold traded than there exists. Of Bitcoin there is 21.000.000
who created BTC and why? You trust those people, it's not a secret anymore. BTC is a speculative asset. I myself made good money trading it.
@@kushseti8842 good for you.
Bitcoin is a state funded tulip craze to ease public adoption of cbdc's.
Go buy FTX 😂
You mean IOU's for gold are traded.
You're saying there exist 100 paper claims to a unit of gold.
So what happens to the price of gold as more of these futures contracts demand delivery?
Own the metal, not the paper.
The only two differences between the stability of the gold price and the stability of the bitcoin price are:
1. Market cap
2. Stock to flow ratio
The second being very minor but in favor of bitcoin as a store of value.
Bitcoin as a store of value? Umm,,,, not me that's for sure
@@sunrisejak2709 your loss
@@sunrisejak2709 Are you forced to use bitcoin like you're forced to use fiats?
@@Gr8IncarnateGood point. But I'm 70 yrs old and I suspect fiat currency use will endure until I'm gone. And being "old school" I have a hard time grasping the intrinsic value of bitcoin. I'm on "team Warren Buffett" when it comes to bitcoin assessment. 😊
Bitcoin is too volatile to be a stable, long term store of value.
The world is beginning to lurch to the 666 mark.
They rest of the world should not suffer because of US fiscal policies.
That's funny... it was British fiscal policies that caused the US to split from the Brits. Then again, Rome landed in hot water in no small part due to THEIR fiscal mis-steps.... Europe after the bills came due for WWs I and II and Germany lacked the gold to pick up the tab right off the bat... Maybe revise your thesis to 'the slaves suffer when the masters fight'. It ages better...
Thank you
The moment I read the Ukraine aid bill was set to pass the House of Representatives I bought a lot of gold lol
Buy bitcoin, thank me later. Or don’t I don’t care. It’s just better gold. More stable than USD for sure
Yeah I’ll get some too
Let me know if you need help
@@deepvalue4651 Is it true if i buy bitcoin from coinbase, i dont really own the bitcoin? are there other accounts where to buy it directly?
@@deepvalue4651 hey is it true on coinbase you dont own the bitcoin? where do you buy bitcoin directly?
In addition to my continuing approbation of Mr. Forbes" explication of the value of gold and his asseveration that only those of limited parochial understanding find difficulty in fully comprehending this I am most impressed by his use of the word 'contumely' in his monologue. I myself have never used or heard this word in conversation and can only admire his pluck in using it when sharing his opinion with us gold owning dunderheads. Good work dude!
Gold is…gold
I think America will adopt the silver standard.
That could work! Why not?
We are too stupid
Silver is too volatile to be a monetary metal in this day and age
Phil Silver. I remember that joker😂😂😂
Forbes say that. Sign world economies not fine
Love your wisdom Mr.Forbes
Should have never left the gold standard and the US should have never had a central bank. Instead we have money that’s not worth the paper it’s printed on…..
Suits Australia, it has more gold than anywhere else.
the question is there's enough gold to cover global GDP i dont think so
Weren’t we on a gold standard during the Great Depression? 🤔
We were all the way up in 1971. Then in 1973 we went on the Petrodollar standard (everyone in the world forced to buy oil in USD - hence why the US Navy is so large and why we invaded Iraq and Libya).
The depression was severely lengthened by the federal reserve (along with the other central banks) and federal policy. In the early 1920s there was a similar depression style collapse, but Warren G Harding fired a bunch of federal employees, reduced govt expenditures, and did a few other things without greatly intervening in the markets and the depression was over in a year and a half
When our current monetary order implodes we’ll likely see something much worse than the Great Depression, since so many people and industries are dependent on the government. So it’s probably wise to stack gold and silver before that happens
Until 1970
Yes. The government "tried to help" by making everything much worse. There was so much debt in the country that everybody owed everybody else so when the bubble burst everyone was wiped out. The currency still had its value, but no one had any. Then, the feds confiscated all the gold! Top-down, Soviet style fiscal management.
@@melektaus2906 … except we saw austerity measures like what you’re describing utterly fail in every country where they were tried following the Great Recession in 2008. 🤔
Is there enough gold for something like this?
Now is the perfect time and opportunity to diversify into gold etfs
Many Thanks. Nice Presentation.🙏🙏🙏
So would holding gold before a re-adoption of the gold standard be profitable? Or would it not matter?
Thanks
Thank you sir.
Steve you read so well. 👍🏻
If currency is banned and barter system restarted then the gap between rich and poor will be eliminated.
you mean the pizza delivery guy and DJs are wrong about crypto???!!
GOLD = OLD / GOD / GOD'S MONEY!!!
US DOLLAR = MICKEY MOUSE / PLAY MONEY!!!
DEBT = DEATH!!!
Bitcoin = Unlocking Demi God mode
True!
@@ANGELCRYPT0 You might be right about Bitcoin. I just never could buy into it. My sister tried to get me to buy some when it first came out. I think I could have bought it for around 20 dollars a bitcoin then. I did not understand what it was. I still dont. I do understand loosely now the theory behind it. I asked my sister what is it good for. Back then you really could not use it for much. No one was accepting it as payment. I think I heard someone say you could get pizza with it lol. Suffice to say I still own no Bitcoin. One of those things you say to yourself, if I could go back in time maybe I would say yes instead of no.
I just started buying bitcoin a month ago I got .38 of a BTC as of now in 10 to 15 years I’m not gonna say I wish I would’ve bought it in 2024.
A Pure Metals (99.9% or higher) Economy based on Gold, Silver, Copper, Platinum is the only rational basis for “Money”. Even “Currency” based on actual physical deposits of these metals could literally be used as “Money” … IF the Issuer/Depository could be trusted to Have On Hand the Actual Metals to back every single piece of “Currency” issued.
Until that happens, I’ll continue to collect the Actual Metals though I admit Using them is difficult and the “Upcharges” are ridiculous.
Silver p/oz is $27 but to buy a 1 oz coin is over $33 to 36 p/oz or about 20% over “Spot”.
This is an advertisement to sell gold, miners aren’t hoarding the yellow metal they’re trading it by the ton for that dreaded fiat. By the way, gold isn’t the only asset that protects against inflation, actually EVERYTHING does. So buy a car, a house, an interest in a local company or even an international business via stocks. Buy something that will make your life better and more prosperous. And leave the gold to sit on someone else’s shelf… doing nothing like it always does
Very clear and informative vedio ❤❤❤
The us actually lost the Cold War during Vietnam, they overspent. This has been one long downfall since we got off the gold standard.
The Vietnam war wasn’t about stop communist spread in Asia. The war was to drain USA financial, leads to removed gold backed dollars standard leads to unlimited printing dollars.
Pretty sure the USSR lost the cold war, seeing as how it collapsed
@@bl1t7arrow what about China? Stop being dense. Communism won. Brics just agreed to a common gold currency, the dollar is finished. This will be the last football season in America.
😂
You don’t win or lose a cold war ffs 🤦♂️
Geez! Just how big is Greenland?
It's small; about the size of Forbes's head.
Not sure if its 'hard to believe' if you understand whats going on. Follow the money
I think his idea of a flat tax was great.
All for the best! The US bullying must be stopped
Reality is that the dollar is the only currency of scale and stability. Gold will not allow countries to easily exchange.
Nope but xrp will. Research it.. buy it...its going to be very valuable soon.
@@Art-is-craft lol, let's see it , your cope or reality
@@abdulrahmanahmedalifarah8807
How does gold allow easy exchange.
The crypto currencies tethered to gold represent an interesting development.
Hey Steve! Thank you for your service.
Thanks Steve!
What would the price of 1 ounce of gold when gold standard becomes official?
If we where able to abandon it a 100 years ago, why should we go back to it? Only to abandon it again and are at the same point we are today?
A gold standard will always be manipulated by government and those who have power.
A Bitcoin Standard is the only solution!
Buffet has taken 200 billion out of the market. How much gold did he buy? But more importantly were did the rest go? Collapsing banks?
Thank You for your good advice and warning👍 Hopefully our Government will take notice!
Steve - having someone of your stature finally saying this is important - a large part of the world will eventually have a gold standard. Your thoughts on silver?
Silver is poor man's gold. Always has been, always will.
Bitcoin?
Bring back lawful money and common law adjudication for the people, and the US of A will be truly free again!
That’s the Plan! The law of the land will shine once again. 😊
thank you for the clear explaination
Gold is the alchemy of chaos
India's SGB was introduced sometime back and only now its come to the international market through JPM.
zimbabwe
A dollar is only s good as the paper it's printed on...
there is no correlation between economic growth and specices-backed money.
Excellent, video! Thanks for sharing as a new generation person who was never exposed to gold or silver, it might be something to consider given the state of the world's unbelievable fiscal position.
How many major gold mines are there? All of them are in their last years of profitability. Demand will just keep going up.
in gold we trust!
Yep. US showed the world that Trading in Dollars is not safe.
The high value of gold is little more than a very long-running commodity bubble. Gold doesn’t have much intrinsic value, other than it is glittery and has demand for producing jewelry.
It does actually. It is a useful metal, but because it is highly valued for it's beauty that makes it economically inefficient to use for industrial purposes.
Doesn't the gold standard guarantee deflation, with its pros and cons? Its not about gold, its about scarcity that everyone agrees on. There could be some kind of crypto standard, mathematically ensured scarcity, with a number of security experts keeping watch for bugs and exploits. Gold reserves need guards too. No more stage coaches full of gold being robbed. If you have a gold standard, you will still use cryptographic methods to "send gold" through the internet. Scarcity could change proportionately with population changes, or maybe you could even vote on scarcity changes. If you like gold in your pocket, buy some.
It should, but it's not.
Ole man They will throw there gold into the streets. Ever heard that.
What you also need to think about is, Yes suppose Gold is now the standard again, what's going to happen to the value of gold? Suppose you're an investor, then of course you want gold to worth more... but any basic economist will be concerned with the effects of supply and demand. Now the demand of gold will be high since it is now the standard, but so will the supply, or the production of it. So how are you going to, predict the new equalibrium in relation to the current one. As investors we hope to have some kind of mechanism of determining that.
Keeps politicians honest. No overspending and deficit spending. Prevents money printing out of thin air. An actual budget. . Many countries pulling in gold reserves as USA uses sanctions as weapons. BRICS nations working on new world currency de dollarizing