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Source (nytimes.com)

[Source](https://www.nytimes.com/2022/03/23/business/janet-yellen-russia-gold-sanctions.html)

(post is archived)

[–] • 1 pt

Are they preparing for their cryptocurrency and social credit system with a Gold Reserve Act of 2024? The government will take your gold by force and you will use their fiat currency on penalty of prison.

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Gold has real value, independent of their manipulations, so naturally they want to control and limit it.

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Gold is Fiat. Just like paper.

[–] • 0 pt

Everything is fiat. Whatever you choose to exchange only has value because someone else agrees it has value. Nothing has intrinsic value except maybe food. For example, a CPU has no intrinsic value. A giraffe that found a Ryzen 5950X would not value it any more than the pebble next to it. It wouldn't even be valuable to an African bushman.