WiM044 - The Saylor Series | Episode 10 | The Death of Gold
The "What is Money?" Show
00:00
The Problem With the Gold Standard
Every time you have a transformation of energy, from thermal to kinetic to chemical, whatever direction it's going, you have lost. And so the result is what like five thousand different systems of coinage overtime, and every one of them struggled Ultimately. They were the basis of the gold standard. It never worked at well because it's got a couple of a some crippling flaws and just some nagging flaws. There's on inflation's a nagging defect. It doesn't inflate fast but inflates at two or three % a year.
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