Measuring a currency against gold is only interesting if the value of gold is somehow constant. But gold's value isn't constant. In the short run, it's thinly traded and has some large government actors. In the long run, assuming peoples' interest in gold remains constant, it will appreciate as the money supply must increase (to prevent deflation) but the amount of gold cannot.
![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
(no subject)
Date: 2011-08-09 06:33 pm (UTC)