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WiM044 - The Saylor Series | Episode 10 | The Death of Gold
The "What is Money?" Show
The Myth of Gold
The myth of gold is as a immutable money riter or the sovereign store of value. But it seems to have stopped working thousands of years ago, you could say. There's been an endless succession of successive empires rising up with a new gold standard that was not debased. And then, generation after generation, the coinage of that next empire, the successor empire, would be debased and collapse. Then another empire would come along, and they would start the cycle over and over again. In 19 71, we defaulted on the gold standard, though the gold standard still has the fiction of being an asset.
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