Re:China’s property giant Evergrande files for bankruptcy pr...
by gottorf on Saturday August 19, 2023 @06:38PM
(#37194052)
One current presidential hopeful has a policy position of undoing that, by having the dollar become a stable unit of measurement against real commodities. It's an interesting idea, and perhaps one more realistic than going back to the gold standard.
Re:China’s property giant Evergrande files for bankruptcy pr...
by somenameforme on Sunday August 20, 2023 @12:22AM
(#37196108)
I don't entirely understand the difference? As the USD has no inherent value, if you stabilize it against a measurement of various commodities you end up with the same thing where 1 'unit' of commodity groups = $x USD. Perhaps it's that the volume of commodities expands more regularly, so eases expansion of the monetary base more than e.g. gold where there is limited supply expansion?
I find the consumer price index 1775-2012 quite interesting. It's really easy to see how nearly everything listed there could be directly, and very likely causally, linked to giving the US government the power to start printing tens of trillions of dollars. Because that money invariably makes it to the most well off in society, even on the rare instance when it starts somewhat lower. If not one has to come up with an alternative explanation for what happened at that time, because it's like in 1971 that were just a button pressed saying, "start destroying socioeconomic stability."
[1] - https://wtfhappenedin1971.com/