Printing Money is easy, backing it with gold—not so much.
Money is a substance created from nothingness.
Its value is determined by the whimsical imagination of counterparties.
In contrast, a bushel of wheat is measured in calories. And oil is measured in joules per barrel.
Imagination has no impact on those parameters.
Think for a moment to all the Apocalypse scenarios you have heard of in movies. Ever notice money is never involved?
Do not criticize our demented President’s monetary policies.
And who is doing that these days?