gold having historical significance as the reference point to price all goods and services
Only after 1873. Prior to that it was always silver in America, and most of the world.
The coin act of 1873 (where we went on the Gold Standard) gave all power to the bankers (who held all the gold), and took all power away from the citizens (who held silver). This was the beginning of the end of America.
I don't think a bimetal standard can work. Supply and demand fucks it all up. That doesn't mean you can't have two different metals (or three, etc.) as coinage, but only one can be standard or you get issues. More importantly, it opens up the door for manipulation.
To have multiple moneys as coinage, you simply make one defined as a "dollar" (like our current definition of 371.25 grains of silver) and make one "1 oz gold" or "1 oz copper" (e.g.). Then the value of the other metals simply is whatever it is for that day on an exchange based on supply and demand. Easypeasyjapaneesey.
I don't know how the Wizard of Oz fits in though. Tbf, it has been a long time since I've seen it.
Only after 1873. Prior to that it was always silver in America, and most of the world.
The coin act of 1873 (where we went on the Gold Standard) gave all power to the bankers (who held all the gold), and took all power away from the citizens (who held silver). This was the beginning of the end of America.
I believe that what was Wizard of Oz was all about. The only correction is that it was a bimetal standard not necessarily a silver standard.
I don't think a bimetal standard can work. Supply and demand fucks it all up. That doesn't mean you can't have two different metals (or three, etc.) as coinage, but only one can be standard or you get issues. More importantly, it opens up the door for manipulation.
To have multiple moneys as coinage, you simply make one defined as a "dollar" (like our current definition of 371.25 grains of silver) and make one "1 oz gold" or "1 oz copper" (e.g.). Then the value of the other metals simply is whatever it is for that day on an exchange based on supply and demand. Easypeasyjapaneesey.
I don't know how the Wizard of Oz fits in though. Tbf, it has been a long time since I've seen it.
Yeah check out the symbolism behind the wizard of oz. It directly relates to the coinage act. https://www.coinbooks.org/esylum_v19n52a18.html#:~:text=As%20railroads%20and%20large%20ships,as%20the%20Crime%20of%20'73.