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45 sats \ 1 reply \ @BlokchainB 11 Jul \ on: Uganda Is Also Shifting To The Gold Standard news
What good does a gold standard do when goods and services you need for your country are still denominated in dollars? Clearly gold has not kept up with the expansion of credit. I don’t see how this helps countries now. Plus didn’t JP Morgan spoof trades to manipulate the gold price?
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50 sats \ 0 replies \ @TomK OP 11 Jul
I think that this step fulfills two functions: firstly, to start a rapprochement with the BRICS, which are betting on gold, and secondly, as a short-term confidence-building measure in the fight against their own national debt and inflation. of course, the gold standard is an outdated instrument
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