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25 sats \ 0 replies \ @mallardshead 28 Jul 2023 \ parent \ on: Why Gold Can't Displace Fiat? | Peter Zeihan 📺 bitcoin
Gold pegged currency is just an affinity scam. It requires the currency be pegged to a fixed amount of gold, then the issuers must engage in an industrial scale manipulation effort in forex to maintain the peg in a range. You usually want partners here for the trade legs. BRICs might be dumb enough to try this again, but I wrote a post recently why they get crushed