You can say the same thing about gold my friend, it's not just collected by people going on a stroll. It has a massive industry to produce it, it's not for free.
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You can say the same thing about gold my friend, it's not just collected by people going on a stroll. It has a massive industry to produce it, it's not for free.
Yeah, I kind of get that, but it is still fundamentally a transferred subjective value, compared to the utility of say life-giving, or energy-giving resources like water or oil.
Anyway, that all said I do agree that there is probably some kind of reckoning coming (or to put it in less biblical language, a correction). I think that's more to do with the failure of government to deal with the issues of deregulated financial markets selling toxic debt, rather than the lack of a gold standard though. But as I said, I have a limited understanding.
I understand your confusion. But think of money, whatever it might be shells, wheat, metals, paper, hash functions, as a technology. Like farming, writing, medicine etc money is one of the core features of human development. The utility value derives from it being a good money medium