AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
5min chapter
The Beauty of The Gold Standard | The Twilight of Gold Series | Episode 5 (WiM150)
The "What is Money?" Show
How It Becomes Profitable to Export Gold
When the balance of trade was unfavorable and the exchanges were adverse, it became profitable to export gold. The would be exporter of gold bought his gold from the bank of england and paid for it by writing a check on his account. Because they're convertible to gold at a fixed rate r It means that the local regime, which is writing the loan and decreasing the value of the paper currency, they are not decreasing thevalue of the gold it now has. Yet makits a gold. Then is this count? Back to this, didn't we describe gold some point is a counter measure, or o anti value? I think money, money is an anti val. Money as an
00:00
Transcript
Episode notes
Get the Snipd
podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any
moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share
& Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode