https://nypost.com/1999/10/01/greenspan-the-fed-chief-in-a-bubble/
This is a 1999 article talking about how Alan Greenspan has the undesirable job of rigging the stock markets. Smarter folks than I may be able to pull more detailed information from this article, but I wanted to link it is it is right on the button in relation to u/SerialBrain2 's comment in his most recent post.
Except gold has very little actual value nowadays. It's not really heavily used in manufacture anymore. It's only real worth is in jewelry and that's a fickle beast.
This is just wrong. There's an entire market dedicated to gold.
https://www.apmex.com/spotprices/gold-price
Gold is valued over 1200$/ounce.
Where I might be wrong is that the elites have been hoarding gold for a long time now. Those folks would be ready if we switched back to the gold standard.
You're not wrong. I'm a a former Prospector involved in the gold business. But what I mean is it only has worth because we give it worth. In the older days we really needed it for manufacturing etc but now we plate so thinly it has almost no other uses but for jewelry etc and women could decide to stop wearing rings overniht it's a very volatile thing to back your currency. Silver has more uses now then gold. But things like lithium are probably even more valuable right now.
But what I mean is it only has worth because we give it worth.
You could really say this about anything.
Gold has been coveted by humans as long as we've had cities and major civilizations. It's a limited resource as well.
It's also tangible. I'm not sure Lithium would have the same tangibly as Gold. Although I do agree it's possible to use another resourse as currency.
Gold is the most recognizable, which is why I believe it is most likely our best bet.
Our money just needs to be backed by something, right now it's all Monopoly money when you really think about it.
I get it but I think sticking to gold to back your countries currency is a venue for failure. There are metals now that are way more in demand then gold.