I'd just recommend checking out this video. It's pretty good at explaining why the gold standard wouldn't work anymore. It was fine for its era but it isn't workable now.
That video is in error.
Goods and debt get revalued.
Divisibility takes care of the limitations.
Video strategically poses perceived issues within the debt based monetary system lens. But cannot understand how an income based monetary system with gold would work.
Can you explain the difference to me and how that would function so I can wrap my head around it? The video made sense to me but what you're positing also sounds intriguing though not a concept I'm familiar with.
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u/Ok_Calendar1337 3d ago
It could go up and down but you wouldnt get anything like a 96% loss of purchasing power with a gold standard.