re: #443 calochortus
I tried to get my favorite wingnut relative to explain to me why gold has intrinsic value greater than, say, oats or coal that would make it a superior form of currency and he just couldn’t do it.
Yeah, I have had a few students—devotees of F. A. Hayek—who have it all worked out. I’m no economist, but I do know that there are any number of instances where the US economy went into depression even tied to gold (JP Morgan had to bail us out once or twice, iirc).