> Decades ago, money had a concrete value in that you could request the issuing government to take your dollars and give you gold at an established exchange rate. When we abandoned the gold standard (and all forms of fiscal concretization), money became inherently abstract.
This is nothing more than redditor type - "akshually" yapping - nitpicking on terms being used rather focusing on the semantics they were used to convey in an argument.
The argument stands whether or not you're using gold backed dollars, fiat (that gets constantly devaluated by incessent printing), or gold coins directly.
It's currency - nominated in some units, and those units will be a proxy and close approximation to value it represents.
This is nothing more than redditor type - "akshually" yapping - nitpicking on terms being used rather focusing on the semantics they were used to convey in an argument.
The argument stands whether or not you're using gold backed dollars, fiat (that gets constantly devaluated by incessent printing), or gold coins directly.
It's currency - nominated in some units, and those units will be a proxy and close approximation to value it represents.