Title: The Price of Gold Source:
Minor Issues URL Source:https://mises.org/library/price-gold Published:Apr 2, 2023 Author:Mark Thornton Post Date:2023-04-02 02:56:11 by Charles_Byrd Keywords:None Views:215 Comments:1
Mark is not fooling around today. He looks back at the history of gold and its price, which some believe is too erratic and too unstable (like Bitcoin) to serve as a basis of a monetary system.
He looks back at the history of gold and its price, which some believe is too erratic and too unstable (like Bitcoin) to serve as a basis of a monetary system.
My counter on that: Gold and bitcoin are unstable..... compared to what?
Obviously compared to the dollar. But that comparison presumes the dollar is a stable form of value by which other things can be measured, and the inflation we've seen with the dollar has been significant of late. If bitcoin or gold was the national currency, its value would be very stable, and the value of the dollar would be fluctuating all over the place. So what currency/asset is stable and which is volatile is relative, kinda like judging how volatile other elevators are relative to the one you are on.
The market price of bitcoin compared to dollars is varies wildly because its value is not associated with goods and services.
