Notices by Zeb Tepes (zeb@merovingian.club), page 2

@BowsacNoodle @shortstories @Tfmonkey @VeganMGTOW @white_male
To all your points, goldtopia has several drawbacks: it curtails government spending, it's very harsh on financial bubbles and it's not forgiving to debtors and failing businesses.
Also, you cannot have a welfare state while on the gold standard.
But the biggest drawback of all is, naturally, war! Since you can't simply print money, you gotta legit sell your bonds or tax your citizens heavily to fund your wars.

@BowsacNoodle @shortstories @Tfmonkey @VeganMGTOW @white_male
Nothing. It would be a great deal for consumers, specially from goldtopia that is getting everything half-off!
It requires a high-level of trust to give foreign countries directly access to your central bank. Read up on Swap Lines, the system already exists today.

@BowsacNoodle @shortstories @Tfmonkey @VeganMGTOW @white_male
It's ok, if a country wants to hoard your currency, it's fine. First, they would not get access to your currency directly (swap lines) but to your bonds. Second, it would appreciate your gold currency every time they buy, making each purchase more expensive than the previous one. It would be politically suicidal too to put all your reserves in an external currency, as they can always simply sanction you or cancel your transactions.

@BowsacNoodle @shortstories @Tfmonkey @VeganMGTOW @white_male
I worked for a central bank a few years back and if you lose your note, it's gone. Damaged notes are simply replaced: you can go to your bank today with a damaged note, they will catalogue it and give you new bills.
The printing and distribution of new notes and coins are done based on forecast and planning, where the total new amount added is essentially mandated by the government.

@BowsacNoodle @shortstories @Tfmonkey @VeganMGTOW @white_male
In theory, maybe, assuming prices would never go down, which they would, as they had in US for decades in the 17-1800s. But I'll tell you what has happened historically. Never has one country or even an entire continent has been able to hoard all the gold in the world. And all nations have also used silver and copper alongside gold as their daily trading currency, that are much more abundant. Prices would be much lower than today too.

@BowsacNoodle @shortstories @Tfmonkey @VeganMGTOW @white_male
You're right. It's not the gold currency that's going up, it's the fiat currency that's going down! It would be a race to the bottom among the fiat bullshit.

@BowsacNoodle @shortstories @Tfmonkey @VeganMGTOW @white_male
All their costs would be in Yuan but their wealth would go up along with the gold currency as a reserve and they would benefit from being paid in this currency too. Very similar to how the US vs the Yuan was in the 70s.
The small country would be new singapore/new switzerland.

@BowsacNoodle @shortstories @Tfmonkey @VeganMGTOW @white_male
China is a government, so they can do whatever they want, legal or not.
Yes, holding foreign currency is always a geopolitical vulnerability because you don't control it, as sanctions prove. But the primary effects would be the new country currency would go up like crazy against the other fiat currencies, what would make their purchasing power skyrocket in comparison. For China, it would be a boom too:

@BowsacNoodle @shortstories @Tfmonkey @VeganMGTOW @white_male
I didn't get it. Why would a country with a gold-backed currency hoard a debased foreign fiat currency?
They would sell most of the foreign shit currencies since their currency is already stably anchored against gold.

@shortstories @BowsacNoodle @Tfmonkey @VeganMGTOW @white_male
True, agree. The fraud was the problem and the bankers (specially central ones) should have been hanged on the spot.

@BowsacNoodle @shortstories @Tfmonkey @VeganMGTOW @white_male
Guys, you gotta brush out on the history of fiat money. Originally it was a simple securities contract (certificate of deposit) of a determined amount of gold/silver.
So even when using fiat money, what was being traded was gold stored in the vault that the holder could claim back at any branch of that bank.
Fiat money as we know today is not money barely a currency, it's not even paper anymore. It's just a number on a ledger.

@triodug
Anyone knows why my wall wires are constantly moaning in Yiddish?

https://www.rt.com/russia/588446-russian-mp-proposes-childless-tax/
Bachelor tax incoming! So it begins