/biz/ - Business & Finance

>>30144981
>the primary issue with using it to back currency is that there's no way to manage the supply
anyone with enough land and a modest amount of skill will he able to grow their own money, which will dilute the buying power of everyone else in the market.

This is not a bad thing. I know this will make the ancaps / free markcucks ree (no one really cares what they think anyway) but the government could set the price of 1 hempbuck. Isn't it a good thing to be able to grow your wealth? you are using the same args as was used against "free silver" movement in 19th century USA. huehuehue silver is more inflationary than gold. is this really an argument? you want the supply to inflate with the amount of work being done. you want people to be more rich with more work being done, don't you?

you can just trade PM's outside of this hempbux system because you can't fix their price to hempux bc their supply is limited, which again, makes them unsuitable as money.

do you really want PMs entering the currency supply? i dont. i want a public room made of gold that people can share and sit in for 15 min for medical reasons. i want silver used industrially. i want to stack shinies. i don't want that shit circulating where it can be clipped/devalued/speculated/vaults drained/made into a face of joe biden.

The limited supply of silver and gold is one of the things that makes it ideal money.

I agree that hemp is a godsend in terms of utility, it just doesn't make for sound money