Tweetby saying "gold standard" he doesnt mean it literally, he means all hard assets..it doesnt matter what the hard asset is, we need something to back our dollar (have a receipt)..in addition, youre right our spending is out of control.

Tweetagain, hard asset is just what people agree upon is the value


in essence value is based on your ability in the future too:

maintain value
increase value
strenght to weather storms

so, it's a balance sheet issue

in decades past, hard assets were just an agreed upon price between parties

do diamonds have an intrinsic value, u can't eat em, they don't help u with ur health