That doesn't really imply any standard of living increase, all it does is show moon. LOL. "People print more gold". He probably should have left gold out of his example.
FIAT and gold can't really be compared in that way. There is a finite amount of gold and humans don't have direct control over it.
more gold is mined in response to rising gold prices More of any resource is produced if the price of that resource rises. The only exception is bitcoin.
useable gold is not finite, we can always mine more of it, if the price is right gold is not scarce, but the time we spend to mine it is.
Unless I missed out on some really important news lately, we don't have the ability to create gold. We can mine it, sure, but the amount that exists on this planet is very much finite. And "mine it" doesn't mean humans have control over the outcome, either. This is very much not like FIAT where we can poof it into existence and the outcome is entirely under human control.
what matters is the above ground, usable supply even though there is a finite amount of gold in the universe, if more is mined, that increases the usable supply and creates downward price pressure in practical terms, gold supply is infinite, because the limiting variable to producing more is our time, not the number of gold atoms in the universe
The topic is getting caught up in semantics. Bitcoin isn't mined. Its generated from a successful attempt at solving a mathematical hash just like USD is not printed. The broader point is that if I showed up at your doorstep with a million dollars worth of gold or 1 million is cash, you would be a fool not to take the cash. Gold has little intrinsic value and is highly over valued. As a civilization, we have developed more sophisticated methods to store wealth. Comparing gold and fiat is nonsense.
