One of the most important lessons I learned growing up in a former socialist country is that the distinction between currency and money is not merely theoretical. Most people assume money is whatever the state declares it to be. But history repeatedly shows that when confidence erodes, people begin searching for something that preserves purchasing power rather than facilitates transactions. That is why gold has survived every monetary regime.
Good to write this with you my friend. Keep up the good work!
It’s my pleasure. Really enjoyed this one!
One of the most important lessons I learned growing up in a former socialist country is that the distinction between currency and money is not merely theoretical. Most people assume money is whatever the state declares it to be. But history repeatedly shows that when confidence erodes, people begin searching for something that preserves purchasing power rather than facilitates transactions. That is why gold has survived every monetary regime.