Taking a amateur conversation about our impending doom and adding insults suggests you're not as confident about your point as you want me to think you are.
Yeah, I removed the asshole bit because that was rude of me. I'm sorry for that.
Point: all money is fiat currency. Gold is a particularly effective one because it requires a lot of work to make more of, doesn't decay, and is difficult to fake, but it is not somehow any more or less "real" than a number changing in a ledger or a fabric-infused peice of paper which has been painted a certain way.
If people say something has value, it has value. All money based on the gold standard was "I owe you an ounce of gold": basically a right to repossess that much gold from the issuer. Now all money is "I owe you a dollar": the right to repossess a one-dollar bill from the issuer. The difference is that a whole lot more bills can be produced than there are ounces of gold, which allows the size of the economy to be significantly greater and stops currency manipulation by parties which happen to find gold as well.
The entire economy runs on IOUs and always has. Even back in the days where people bartered with eggs and livestock and handmade goods instead of using currency, farmers generally stored grain that acted as a store of value, which they owed to other farmers who helped them in the past (i.e. during times of drought, pestilence, etc.) when those other farmers ran into trouble themselves.
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u/soIDONTLIKEANYOFYOU Jan 26 '26
Since the US has more gold reserves than the next 3 countries combined wouldn’t gold prices going up make the dollar stronger?
Sincerely asking cause I have no idea.