> Assets you can reasonably call "currency" and assets you speculatively buy and hold seem like fundamentally incompatible categories.
This is a new opinion on money that didn't exist 200 years ago.
For all the things that economists have to say about how terrible deflationary assets are at being a currency, economists fail to admit that gold and silver ran the world for thousands of years.
Using assets as a currency has its pros and cons. But it is absolutely not "completely unworkable", as many modern economists like to claim, as demonstrated by the fact that it DID work for the vast majority of human civilization.
But it DID work. For the majority of human history, gold and silver ran the world.
Economic predictions about how society would collapse if assets were used as currency is provable false. As proved by the fact that the global economic world chugged along just fine with such a currency.
This is a new opinion on money that didn't exist 200 years ago.
For all the things that economists have to say about how terrible deflationary assets are at being a currency, economists fail to admit that gold and silver ran the world for thousands of years.
Using assets as a currency has its pros and cons. But it is absolutely not "completely unworkable", as many modern economists like to claim, as demonstrated by the fact that it DID work for the vast majority of human civilization.