Comment by XorNot
4 days ago
No the thesis of cash is that it's a legally enforced means to extinguish debts within a certain legal jurisdiction.
A court cannot generally find that I must furnish someone with some weight of gold for example but they can find a monetary value in sovereign currency which I must supply.
The thesis of cash is that governments and their influencers can turn some knobs and decrease its value and enrich themselves simultaneously by creating more of it. A lot of it as debt for the normals.
incoherent
The thesis for gold is that it holds its value in times of war when companies and governments fall apart.
Any war that has the USD no longer be accepted has significant existential risk, and besides if things devolve that much you should be worrying about any entity holding the gold for you or someone killing you for the gold you personally hold.