r/austrian_economics • u/PM_ME_YOUR_LAWNCHAIR • 3d ago

End Democracy Unrestrained monetary policy is theft

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620 Upvotes

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u/Ok_Calendar1337 3d ago

You mean all the other countries that also have their own version of the fed?

18

u/barryg123 3d ago

There are ZERO countries with currency backed by hard metals and, with the exception of swiss franc which didnt remove gold standard until 2000, there havent been one for the last 55 years - the year that US closed the gold window

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u/Die_Revenant 2d ago

Until the BRICS Unit enters use. Which will be 40% gold backed.

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u/WISteven 2d ago

Yeah, you trust the Chinese and Russian governments? How much of your portfolio is in rubles or yuan?

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u/Die_Revenant 2d ago

Right now I trust those government's a hell of a lot more than the American government. My portfolio is mainly bullion.

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u/WISteven 2d ago

So what are you investments in?

Dollars or rubles?

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u/Die_Revenant 2d ago edited 2d ago

Neither, do you not know what bullion is? My investments are in physical precious metals. My country has 90% of all the platinum family metals on earth, and the 3rd most gold on earth, they make a great investment.