/biz/ - Business & Finance

>>55016401
>Government should have no business setting a fixed ratio.
I agree in theory but in practice it's an idealist take. Remember you gotta make money so that the absolute dumbest of the dumb can use it to function. If a piece of silver says "1 dollar" and a piece of gold says "20 dollars" You gotta give the retard something he can immediately understand as "20 dollars". If he sees from some dumb tabloid at the supermarket that the gold is worth 26.72 times the silver on a per-weight basis but it's actually 18.4 times and you're dealing entirely in mass he's going to freak out at you and think you're ripping him off.
It's not like the governments just arbitrarily set a value, they were constantly fighting with banks and bullion suppliers on ratios and stuff. They even fought a lot amongst themselves. Pre 1853 US coinage is super inconsistent because ratios were all over the place, it caused a lot of chaos in the open market
>It's probably autism.
Lmao same bro, I get it