Too late at night for my monkey brain. Btw I should of tagged you in this but https://voat.co/v/whatever/2287919/11341541
Thinking out loud: Theoretically Gold and Silver would be a finite amount of money - as demand for it goes up and it gets spread thinner and thinner with population growth, its purchasing power would go up and we'd get deflation, which to my understanding can be pretty detrimental to the economy.
There's also the issue of how much purchasing power does this give people who physically mine gold and silver. Would we be turning them into the new bankers.
[–] Cantilever [S] 1 point -1 points 0 points (+0|-1) ago
Deflation is harmful to economies, but we've gone a full century with nothing but inflation. We are long overdue for a correction
The supply of gold and silver is controlled by the mining cost. It is self regulating since once the money supply meets demand, the cost to mine will rise above the value of the mined metals
The founders were so wise