“fiat mindsets” have nothing to do with the point i’m making.

look at the world on a gold standard… there was a certain amount of gold in the world (ignoring the ~1% inflation), and that gold only represented a fraction of the world’s wealth.

the rest of the world’s wealth was stored in income-generating assets (homes, cars, stocks, bonds, land all had non-zero values 100 years ago). those assets may have even been denominated in gold… but they weren’t actual gold.

i understand the effect of money printing on an economy, i’m not arguing that though… what i’m arguing is that even on a sound money system, money will only ever represent a fraction of an economy’s wealth.