Larry White on Gold, Fiat, and Bitcoin: Determining the Ideal Monetary Standard
Macro Musings with David Beckworth
00:00
The Gold Standard and the Predictability of Money
Since money is tied to gold, there's only so many notes to go around. This means people hoarding money, less spending, prices going down. But because prices go down, it makes gold mining more profitable. You can bring that gold out of the ground, you get money,. That money has more purchasing power, and so it self-corrects.
Transcript
Play full episode
