Good points, but...
You say “Even for the nobility, gold was excessively valuable.”
So, you and your neighbor both go to the King and arrange a trade for food. Your neighbor has paper, you have gold.
Who’s going to be eating fried chicken that night? You, of course. That is, if the King didn’t have you beheaded and just take your gold.
” So, you and your neighbor both go to the
King and arrange a trade for food. Your
neighbor has paper, you have gold.”
First, there is more than gold and paper. In the past, working class did not trade in gold much. Second, it is the king buying the chicken. He isn’t a farmer, he lives by taxing others.
Third, good luck with that. It won’t be a bunch of weak pansies he is lording over. Try and lord over your neighbors, and they’ll kill you for it.