So first off, the unrest in HK has fuck all to do with wealth inequality and everything to do with a bunch of people not wanting to live under a dictatorship. So WTF that comment has to do with the subject at hand who knows? Grabbing some arbitrary current event and using it for justification for a position that has nothing to do with that event isn't the most powerful of persuasive techniques unless you're conversing with morons. Who decides we use gold as opposed to any other mineral or object? That's either an arbitrary decision you make or it's made by the political appointees at the Fed who were appointed by the elected officials we all elected and therefore have some control over and who, by the way, have a modicum of macro econ background. Between those two I'm sorry but I'm not going to go with your arbitrary choice. Who decides how many dollars to an ounce of gold? Again, someone has to do it and they'll do so at last as arbitrarily but probably more so than the immense amount of data that is currently analyzed to determine monetary policy. And what does "stable" mean? First off, unless you're carrying it around and shaving off bits to pay for shit it's always subject to the "arbitrary" value vis a vis a currency. And that doesn't even begin to address the completely arbitrary way in which the gold money supply is expanded. Big gold find, we all get money that's worth less, regardless of what's going on in the greater world economy. No gold finds for a while while the number of people grow and the economy grows...too bad on that, no growth for you till we find more gold. Seriously, have you taken a single macro class or even given more than a minute's serious thought to this subject, because what your saying isn't even internally consistent let alone rational from a macro point of view.
Nobody cares about dictatorship if he can afford a house No matter what you're fed those protests are about money now if you can't understand such a simple thing how you can discuss more complex issues like ...money or so both those issues are money and you can't make connection between them and some arbitrary folks in central banks who created this issue and will create more
I'm not "fed" anything. I happen to know a number of folks HK who have been participating in the protests and who have all conveyed to me that they are entirely about the extradition bill and follow-on fears of China's crackdown on democracy in HK. Where exactly are you getting your super secret information that only you seem to be clever and smart enough to know about that these are economic protests instead of pro-democracy protests? And you better tell the protestors, since you're so smart you know what they're protesting better than they do! Seriously, at this point the question isn't if you've ever taken a macro class it's if you've even graduated from high school. It's simply hilarious for you to accuse anyone of inability to understand anything. Thanks for the laugh, I needed a little humor in my life today!
Total misinformation! First off, I give no credence to YOUR idea that "wealth sharing mechanics" are needed, necessary, or beneficial. That is socialism. Socialism is a proven failed system and I do not entertain your premise in the least. Secondly, how is gold a "stable medium"? A year or so ago, gold was priced around $1100/oz./USD. 7 years ago or so gold was near $2000/oz/USD. Today it is around $1500/oz/USD. So today that's a 25% decline from the high, with a near 50% decline at it's lower end of the time period referenced. To be fair, Bitcoin has worse "stability". Third, a "medium of exchange" is whatever all parties involved in a transaction agree upon. It could be salt, seashells, cows, magic beans, USD, Zimbabwe Dollars, gold, garden weeds, tulip bulbs, green M&Ms, or just about ANYTHING... as long as all the parties have CONFIDENCE that the "medium of exchange" has value! Why is the world seeking USD? It ain't because their confidence in the dollar is missing! OTOH, in parts of the EU, deposit $100Euro and at year end you get your $99.50Euro... does that instill confidence in the Euro? Lastly, the Fed does not decide winners and losers. The US Fed is in charge of ECONOMIC POLICY. The Fed does not dictate an individuals income or indebtedness or tax rates or money flow!! US Congress authorizes budgets, how money is spent, and writes tax and other laws... Congress is in charge of FISCAL POLICY, and Congress, either directly or indirectly chooses winners and losers through the budgetary process. Wakey wakey.
Countries run by dictators will never make the list of the best countries to live in, Hong Kong has been climbing this list. It has the most free market in the world. Not everyone is apathetic towards freedom. https://www.investopedia.com/financ...economically-free-countries-in-the-world.aspx
CBs have different means to control monetary system of a country and they can be easily applied in case of emergency. However, different question is if they want to act