RE: Art Laffer Talks About The Hive Backed Dollar (Without Knowing It)
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Not bad for a guy who doesn't do emails.
Super interesting that he was so against having stable value pegged to the US dollar because he doesn't trust the USD and fiscal/monetary policy. His points about prices rising so much over the past couple of years is correct, but it's hard for me to get my head around pegging it to a value that isn't the USD.
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In the not-too-distant-future it will be pegged to Gold. The original stable money.
From memory I first suggested this back in 2017.
HBD will be pegged to gold? Is gold stable enough? I thought there was still quite a bit of volatility in gold prices.
Gold is as stable as most national currencies on a good day....and it's harder to inflate. Governments can't print it and give it to their friends.
There is a good reason why Gold served as money for thousands of years. For the last several decades people have forgot, but they will remember soon enough.
Would the $12T value of gold potentially found in Uganda not increase the price volatility of gold in the coming years?