Bob reviews the classical gold standard era, including the demonetization of silver, to evaluate Michael Saylor’s proposal for the US government to swap its gold reserves for Bitcoin. Bob agrees with George Selgin that the USD dollar doesn’t need reserve assets because it’s the global reserve currency, but Bob thinks that status will be forfeited over time, making BTC a wise purchase for the feds.
Related:
https://www.youtube.com/watch?v=Eq_sYGCrl_I
https://substack.com/home/post/p-152252942
https://mises.org/library/book/understanding-money-mechanics