As a homework exercise, I’d like you to consider just how much gold would be nec... | Hacker News

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		stouset 11 months ago \| parent \| context \| favorite \| on: Bybit loses $1.5B in hack As a homework exercise, I’d like you to consider just how much gold would be necessary to back the current amount of dollars in circulation.

desumeku 11 months ago [–]

This is a dumb question. The Fed can endlessly print as many dollars as it wants. They could print $20 trillion tomorrow. See? Just think about how much gold would be required to back that $20 trillion! Clearly gold is stupid. Right?

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