Gold: Protection from Parasites | The Nerve Center of Economics

#economics #gold #money

Gold has been chosen as a medium of exchange for thousands of years. A medium of exchange is necessary for a society to get beyond barter. A medium of exchange that is used frequently is a money. There are some unique qualities which make money. Gold is in a limited supply. It’s used in exchange because people consider it valuable. Gold was accepted by the people. It wasn’t forced on them.

As Murray Rothbard pointed out, money is the “nerve center of the economic system.” Going off the gold standard destroys interhuman relations, cooperation, the market, and freedom. There is no reason why one agency should have this much power. In essence, the state creates permanent conflict. They can’t print gold like they can with paper. So, they just add more zeros to their bank account. What a marvelous position.

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