Depends upon what you use as the measuring stick, dollars or gold. Or oil. Or wheat.
My contention is that gold is the historically stable value, and everything else fluctuates against it, both up and down.
I suppose that as long as everything is tied together in a relatively free global market, then its all copacetic.
IMO, none of these currencies or commodities represent wealth. The only wealth that has been of value throughout human history is organized, productive human activity and creativity.
Often called “work.”
We can say that but most people care about whether or not their money will be enough to buy the things that they're shopping for --namely food, clothing, shelter, etc. Compared to those things people really don't buy gold that often. That's why America's decided to regulate the value of the dollar so wages track consumer purchases as much as possible. imho they've been doing a pretty good job:
