0 sats \ 2 replies \ @justin_shocknet 11 Sep \ parent \ on: Thomas Jefferson and the Financial Panic of 1819 econ
Doubt there would have been a direct-to-fiat path back at that time, that being the case pegging to oil was brilliant because it incentivizes energy production when its inevitably inflated, makes it the closest thing to an energy-currency.
That's a terrible bar, lots of things are inherently worth something, that doesn't make them good money. Equity in productive assets and real estate are now and will always be the real value we attempt to store.
that being the case pegging to oil was brilliant because it incentivizes energy production when its inevitably inflated, makes it the closest thing to an energy-currency.
If you like giving away your freedom to Saudi Arabia, sure.
That's a terrible bar, lots of things are inherently worth something, that doesn't make them good money. Equity in productive assets and real estate are now and will always be the real value we attempt to store.
Real estate has a relative price compared to gold. Anyway, we probably aren't going to agree beyond this point.
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Saudi Arabia
Thats the CIA for you, working around what Nixon did. Tariffs on imported oil while incentivizing our own production via peg could have been a boon.
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