/biz/ - Business & Finance

>>54063614
blessed

>>50141339
>the government says that 10 pieces of silver are worth 1 piece of gold
>however the market price of gold, which is based on supply and demand, not what the government says, is actually 11 pieces of silver
>so if I take 10 pieces of silver to the government bank and exchange them for 1 piece of gold, I just made a profit of 1 silver piece, because my 1 gold piece is actually worth 11 silver pieces, not the 10 I bought it for
>everybody realizes they can make a profit by looking for silver coins and forcing the government to buy them at a loss
>the government is pissed off because its own citizens are ripping it off
>the government eventually gives up and stops recognizing silver as legal currency
this is what happened in the United States in the 1860s-1870s, and this is why using multiple metals for currency is stupid.

>we will never get closer to escaping clown world than this again
I want to FUCKING go back bros