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Silicon Valley Bank Collapses

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vk6zgo:

--- Quote from: EEVblog on March 18, 2023, 01:39:45 am ---
--- Quote from: Marco on March 17, 2023, 06:53:55 pm ---
--- Quote from: vad on March 17, 2023, 05:56:26 pm ---I wonder how this compares to resource wastage and environmental impact of gold mining.

--- End quote ---
It would be pretty disastrous to back a major currency with gold again too, yes.

--- End quote ---

Why?
You just have to peg a ratio.
Does mean you can't just print more out of thin air though, and well, they can't give up that magic ability.

--- End quote ---

When the Spanish, in the 15th Century, started looting those societies in the New World which had a lot of already processed gold & silver, as well as establishing new mines, "treasure ships" full to the gunwales with precious metals streamed back to Spain, initially to great joy & celebration, but the huge increase in the quantities of gold & silver held in that country soon caused a fall in their value.

This lead to inflation, which in time, spread across Europe.

https://en.wikipedia.org/wiki/Price_revolution.

vad:

--- Quote from: EEVblog on March 18, 2023, 03:02:56 am ---Be careful playing the Modern Monetary Theory game:


--- End quote ---

Dave, what makes you believe that Robert Mugabe's regime followed any modern economic theory at all?

USSR, on the other hand followed Marxist theory and played the Gold Standard game.
Each ruble had equivalent of 0.987412 grams of pure gold between 1961 and 1991.
Here is a picture of typical Soviet grocery from late 1980s:



Correct me if I am wrong. US dollar was pegged to gold when Great Depression began, was not it?

iMo:
Germany 1923..

nctnico:
Keep in mind that gold being valuable is just an imprint in western culture. Like a religion obsessing over a tangible object instead of an imaginary deity.

DavidAlfa:

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