The value of metal isn’t arbitrary,bits valuable because the metal is actually valuable. You can use copper for electronics, silver for medical instruments, gold for all kinds of things from semiconductors to low impedance buses
Yeah, because necessary computer chips, medical instruments, and other electronics won’t become extremely expensive or scarce from being MADE OF MONEY!
There’s a finite amount of metal in the world and an ever-increasing demand for both things made of metal and currency. Combining the two would inevitably lead to a point in the far too near future where only very rich people can afford to use money and/or only rich people can afford to build anything out of the money metals.
There is no deflation of metal currencies or inflation
Except when there’s not enough of it in existence for both making the things of it AND for being all the money. Which is already the case.
This is a common lie of corporate sellsmen trying to sell everyone into their pyramid scheme
Maybe not the BEST thing to mention pyramid schemes while trying to convince people that inherently finite resources can cover several exponentially increasing needs in perpetuity…
The value slowly drifts over time
Until it’s suddenly currency again AND still needed for making important stuff with.
the discovery of new sources or technology which makes extracting easier
Which will STILL be much more expensive and require extra security once extraction equipment contains wiring and circuits made of literal money.
The point is though that compared to fiat currencies, it’s extremely stable and over generations
Which it has been because it’s been considered raw materials for production of goods for generations. That flies out the window the moment its value becomes intertwined with all levels and types of commerce
something people can save and give to their grandkids
If they’re EXTREMELY rich compared to most of the world’s population.
it will be roughly the same value.
No.
People can retire for example without ever needing to put their money at mercy to the rich in speculation markets.
Very few people, sure. Probably significantly fewer than now.
The is what you call deflation, but it’s what I would call economic appreciation
It’s what I call becoming richer by already being rich, which is basically the stock market but with less effort.
this is an honest economy
Overly simplified to the detriment of most people ≠ honest.
Simply put prices have to meet workers halfway.
Would be lovely, but the reality is that most workers would no longer be able to afford anything made of the money metals and would probably be underpaid even more than they already are since there’s actual scarcity added onto the artificial scarcity.
The only real downside compared to fiat currency, and this is really the only one in actuality
Nope. I’ve mentioned a few already at I bet you’re going to say something else in a bit
that money is harder to obtain without producing something of real value
Not if you already have it and it appreciates. Like the current system, but even moreso, it’ll be up to the ones who hoard the most riches to determine what has “real value”.
This means that governments can not spend money to stimulate the economy, and the economy cannot carry massive amounts of debts
Which would be awful. Without tools such as deficit spending and government debt, every recession could take years or decades, if not be permanently insurmountable since you can’t just create emergency metal.
Interest rates would be high because interests would have to cover the people who default.
Which would mean that only rich people would be able to afford to borrow money, further enhancing the “get richer by already being rich” effect
This is not a bad thing
As long as you are one of the lucky few already in possession of a lot of wealth in metals.
I could go on responding to all the rest of your fallacious arguments in turn, but if you haven’t gotten the point yet, let me just summarize it for you:
TL;DR: Going back to economies based on physical metal would be absolute weapons grade idiocy.
In the context of American politics? Yes, it is.
Groups like the Heritage, ALEC, and the Federalist Society (whose lists Trump picks judges from) are all profoundly awful and were all mainstream conservative power brokers for decades before the party went full fascist
Fixed that for you.
True, but judges literally make choices for a living.
To be recommended for any position by the Federalist Society, a judge has to consistently make such awful decisions over a long period of time.
To do that, they’d have to just genuinely be a bad judge who makes so many bad decisions that benefit rich and powerful people that them being good people would be a purely theoretical possibility.