ThoughtStorms Wiki

Context : OnFeudalism

Now compare TechnoFeudalism


The more I think about AltMoney, the more I suspect that gold or other commodity backed moneys are the natural money of the aristocracy. (A feudal institution.) Because the quantity of money is fixed by the commodity while the human population grows, the value of labour falls against the value of the cold, hard metal. Effectively the inherited wealth grows in value. In fact, with fixed money (rather than everything-floats-against-everything FiatMoney) even capitalist investment might not be as valuable as putting your wealth into a horde of gold candlesticks and other ornaments. After all, however succesful your capitalist enterprise, it can never capture more money than is available. (Compare BitCoinCitadel)

One symptom of the NationState losing power is the retreat of non-state fiat currencies. If these are GoldBackedCurrencies this could also be a cause/symptom of a new medievalism.