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People can (and do) invest in gold right now. Nothing would change significantly for rich people as they would continue to put most of their money in the same investments they do today which generally have higher risk adjusted returns than gold and would continue to have higher risk adjusted returns than a gold backed currency.

The difference would be in the liquid portion of a person's assets and poor people need to hold a much larger part of their assets as cash and are therefore much more affected by inflation.

It should also be noted that neither fiat currencies nor currencies backed by precious metals are guaranteed to maintain their value and are usually not the most secure means of long term wealth storage.

Rich people have no reason to keep significant amounts of currency while poor people have fewer options. Workers must also actively negotiate for higher wages while the value of their wage is passively going down.

Regulations usually don't do what those who advocate for them say they do. They are generally created to benefit some corporations at the expense of consumers and/or other corporations.

I'm not convinced environmental regulations are a global net benefit to the environment and I can't see how privacy regulations could possibly be beneficial as customers who want privacy protections create a market demand for them. Even in the extremely unfree healthcare market in the US, provides would improve their data security if they thought people were not getting treatment because they worried about their privacy. Regulations create a false sense of security, incentivize companies to keep data breaches and past vulnerabilities secret, and make developers spend time complying with ineffective or harmful requirements instead of actually improving security.

I think one should be very sceptical of regulations and other coercive alleged solutions from governments, especially as politicians have a very strong incentive to serve the corporations who fund their campaigns rather than the voters who rarely even get to hear the name of a candidate who is not supported by corporate spacial interest and wouldn't vote for them anyway as to not "throw away their vote".