We know now that you can’t turn “base metals” into gold through chemical processes, but if you could, gold would no longer be scarce and therefore no more valuable than the base metals.
We know now that you can’t turn “base metals” into gold through chemical processes, but if you could, gold would no longer be scarce and therefore no more valuable than the base metals.
Why? The world will just move to a different standard, and although it would hurt rich people it also likely would cause a ton of problems for regular folk too
Will it though? There are far to many egregiously wealthy people on our current monetary standard, we dont seem to be moving on. I will happily pay someone in leaves though.
The only way I can see gold becoming cheap being a problem for me is due to it being a problem for rich people and them making it my problem.