Chapter
The History of the Gold Standard
21:15 - 26:13 (04:58)
The gold standard was adopted as a means of creating a uniform currency using a universally recognized commodity, gold. While silver and gold were used as money in the 19th century, gold became the primary standard due to its divisibility.
Clips
Gold stockpiles increase at around one and a half to two percent per year, every year.
21:15 - 23:51 (02:35)
gold
Summary
Gold stockpiles increase at around one and a half to two percent per year, every year. Gold is constantly added to a stockpile that is not being consumed, since there's no way of consuming gold.
ChapterThe History of the Gold Standard
Episode#284 – Saifedean Ammous: Bitcoin, Anarchy, and Austrian Economics
PodcastLex Fridman Podcast
The gold standard refers to a monetary system in which the value of currency is based on gold as a unit of account.
23:51 - 26:13 (02:22)
Gold Standard
Summary
The gold standard refers to a monetary system in which the value of currency is based on gold as a unit of account. This podcast dives into the history and functionality of the gold standard.