I am going to step out of the gold pond momentarily. Money is worth what you can buy with it. And more specifically what people believe they can buy with it if they accept the money in trade. As such, confidence plays a role. Gold is one form of confidence, but there can be several forms. Even, no other option.
Agreements can also enter the picture. If a vendor doesn’t take a type of credit card or a type of crypto or foreign money, then they become temporarily worthless.
On the other hand, if silver and gold are accepted as a storage of value, that value determined by 2 parties in an exchange, then you have the most honest money to be found. I can trade eggs for meat, or firewood or sugar if the other has the commodity i need. With silver or gold thst valuebisbstoredbuntilbyoubfinsld someone with what you need willing to trade/sell.
I am going to step out of the gold pond momentarily. Money is worth what you can buy with it. And more specifically what people believe they can buy with it if they accept the money in trade. As such, confidence plays a role. Gold is one form of confidence, but there can be several forms. Even, no other option.
Agreements can also enter the picture. If a vendor doesn’t take a type of credit card or a type of crypto or foreign money, then they become temporarily worthless.
On the other hand, if silver and gold are accepted as a storage of value, that value determined by 2 parties in an exchange, then you have the most honest money to be found. I can trade eggs for meat, or firewood or sugar if the other has the commodity i need. With silver or gold thst valuebisbstoredbuntilbyoubfinsld someone with what you need willing to trade/sell.