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0 sats \ 1 reply \ @Coinsreporter OP 8 Aug \ parent \ on: Does India still follow Gold Standard for its Currency Indian Rupee (INR)? econ
The thing is that Indians don't save too much in INR. Those who can save, they generally save in Gold.
I'm not saying that India's currency wouldn't fall. It would fall but Indians would be least impacted as they have their own Gold reserves.
Until other people, then the government, figure that out. Like all physical property, it’s only as safe as the amount of force you have and are willing to use to defend it.
The Mandibles, by Lionel Shriver, is a novel that explores the scenario of a debt default by the United States. The resulting currency collapse and social breakdown. Physical property is one of the first things transferred from the weak to the violent, when things start to unravel.
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