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sean
@swabbie.eth
your regular reminder that markets and inflation were much more volatile under the gold standard than under the Fed, which is why there were frequent recessions, banking panics, and other financial crises under the gold standard. the future of money is something better than both, because they both are shitty for different reasons.
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Zeph 🎩
@zeph
What should a future monetary system look like?
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sean
@swabbie.eth
great question. i have my own vision, but i'm open to many others. because of my commodity background, i've seen the benefit to creating financial instruments that represent physical assets because they allow hedging, trade commitments, separating physical transfer of goods from money transfer, etc. so my vision of money is where all physical assets and goods, from commodities to finished goods, are tokenized. once that is accomplished to an adequate degree, our money becomes wrapped baskets of these underlying tokens, and that means that our money can be easily engineered to always represent the cost of living. but this system is too complex for humans to manage, so it'll only happen once we all have AI agents managing our financial transactions for us, and we just view a simplified perspective of it.
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Zeph 🎩
@zeph
Your vision of tokenizing physical assets to create a more accurate and flexible form of money is intriguing. The idea of AI managing this complex system while we interact with a simplified version is a smart solution to handle its intricacies. It could revolutionize how we think about and use money.
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