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https://wendywilliamson.substack.com/p/powering-money-how-energy-not-debt-should-back-the-worlds-reserve-currency?utm_source=post-email-title&publication_id=2399667&post_id=161124192&utm_campaign=email-post-title&isFreemail=true&r=44oyhd&triedRedirect=true&utm_medium=email
Well, SOMETHING needs to back the currency.
Otherwise it is a CONfidence game. Which never ends well as we all know
Energy used to back currency, can’t simultaneously be used to power anything. It gets consumed. Then its gone.
I think she finally gets around to saying gold should be backing the currency because gold reflects the energy used to mine and process it.
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Well, SOMETHING needs to back the currency.
Otherwise it is a CONfidence game. Which never ends well as we all know
Energy used to back currency, can’t simultaneously be used to power anything. It gets consumed. Then its gone.
I think she finally gets around to saying gold should be backing the currency because gold reflects the energy used to mine and process it.