I know you state many times that the gold standard caused the great depression.
Any economic depression is seeded from corruption in the economy.
This didn't always used to be the case.
It used to be Mother Nature's fault.
Like in Ancient Egypt if they didn't get a flood the economy would suffer if they weren't stockpiling grain from a better season. Now that technology has created abundance, all depressions are probably caused by artificial scarcity and the failures of modern capitalism and greed from the top-down.
In the case of the Great Depression: it was likely created from the growth created during the Roaring Twenties. When the economy is too good for too long people get lazy and assume it will always be good and they don't hedge for a downturn. Looking at crypto, we see that technology speeds up time and creates these cycles every 2-4 years. Crypto bear markets are created by the exact same corruption and greed, but they burn out the zombies much better than the legacy system.
The context in which I say these things matters more than the actual truth of the issue. The context of HBD is that we peg HBD to the most stable asset on the planet, and then we try to make it even more stable with interest rates. Pegging to gold would be a terrible idea unless it becomes more stable than USD, and even then a negative interest rate would then be required because gold can increase in value.
The gold-standard is an outdated practice and would only work as a inefficient but robust backup to crypto.
Luckily crypto is all about inefficiency and robust backups, which is why crypto will inevitably subsidize the gold/silver standard, as I have written about many times.
We're in complete agreement that pegging HBD to gold is a really bad idea and USD is a much better choice. That's mostly because HBD is debt though, and you want to have your debt in an inflationary asset not a deflationary one.
I was just saying that I don't believe the gold standard caused the great depression, and I believe that stores of value like gold and eventually bitcoin would make the best currencies in a free market system.
Yeah the whole "Gold Standard created the Great Depression" angle was a pretty flagrant hot take.
But I also believe that intelligent decentralized inflation is doing to become a killer dapp.
That isn't possible to achieve with Bitcoin or Gold.
To me Bitcoin and gold are all about security and robust backups and will take a backseat during the good times.