The chinese economy is based on paper mache apartment buildings.
No one can use the gold standard anymore because there isn't enough gold to represent all of the goods and services available in the world. If you tried, a gram of gold would cost > $100k and you'd wouldn't be able to use it for electronics.
Construction in general is a surprisingly corrupt industry. Yakuza liked to use construction companies as fronts for their illegal operations, and there's endless stories of politicians rewarding government contracts to a company owned by their brother or cousin or something.
The Bank of Japan nearly collapsed the world economy all because they raised interest rates from zero to a fraction of a percent. It's all fake and gay.
Dumb question, do these countries still use the gold standard? I know Korea doesn't but I'm not sure of China or Japan.
The chinese economy is based on paper mache apartment buildings.
No one can use the gold standard anymore because there isn't enough gold to represent all of the goods and services available in the world. If you tried, a gram of gold would cost > $100k and you'd wouldn't be able to use it for electronics.
Important correction: the chinese economy is based on paper mache apartments that the construction companies have/are going bankrupt on.
Construction in general is a surprisingly corrupt industry. Yakuza liked to use construction companies as fronts for their illegal operations, and there's endless stories of politicians rewarding government contracts to a company owned by their brother or cousin or something.
I always assume that's why the roads don't get finished. Someone is getting paid by the day to suck.
Regular transactions were usually handled in silver. gold was for land purchases and sovereign wealth and shit.
Perhaps what you say is still true, but gold shouldn't be the only currency.
without looking, haha, no, they don't.
The Bank of Japan nearly collapsed the world economy all because they raised interest rates from zero to a fraction of a percent. It's all fake and gay.
Every country is on fiat now