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WiM004 - The Saylor Series | Episode 4 | Bitcoin: The First Digital Monetary Energy Network

The "What is Money?" Show

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The Real Risk of Gold

When gold price goes up by a factor of 10, capital gets attracted into commodity production. People keep producing to try to recover their cash flows. A government that takes ownership of a gold mine will produce below variable cost in order to maintain jobs. This is why you don't ever want to be a budget airline because a government will operate airline flights at a variable cost loss and avoid shutting down the airline.

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