AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
2min chapter
WiM044 - The Saylor Series | Episode 10 | The Death of Gold
The "What is Money?" Show
The Implications of a Gold Standard
Gold was a reliable medium for final settlement, but it could only be used for large transactions. So we had to build systems of deferred settlement around it which are economically more efficient. But if they introduce all of these this need to trust counterparties, which comes with counterparty risk, which blows up time and time again. The implication is city state because i have to get my credit from the local merchant. And so you can't have an easy rise of the nations state under a gold standard or a coinage standard. It's kind of challenging, right?
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