EDC - Money

[haptalaon]

Nixon de-coupled the dollar from gold value in 1971, allowing the US to print as much money as it wanted, effectively destabilizing the global economy. I worry about paper assets held digitally and what might happen in the event of cyber attack, bank failure, or stock market crashes.

I was learning about this in one of David Harvey's lectures on Capital, which are on youtube - the problem, in part, was that gold is not a neutral, abstract thing, it's an actual commodity, so if you have a gold standard then 'which countries have gold' is a live issue.

As for the topic of the thread: yes, I always carry a tenner, but as often as not I end up spending it on other people (bus tickets, taxis, bottle of water) when friends or passers by are in a bind and have no cash on them.

 

[TeeDee]

I was learning about this in one of David Harvey's lectures on Capital, which are on youtube - the problem, in part, was that gold is not a neutral, abstract thing, it's an actual commodity, so if you have a gold standard then 'which countries have gold' is a live issue.

As for the topic of the thread: yes, I always carry a tenner, but as often as not I end up spending it on other people (bus tickets, taxis, bottle of water) when friends or passers by are in a bind and have no cash on them.

More so in the US Dollar sense as it holding the entitled placement of being the Global reserve currency has kept it in an artificially high demand as the currency of exchange on a compliance basis once it comes to Oil exchange.

How the U.S. Dollar Became the World's Reserve Currency

The U.S. dollar was first minted in 1914. Find out what made the U.S. dollar the world's reserve currency.

www.investopedia.com