Ironically, covid should help alleviate this problem by triggering a monetary crisis leading to the return of gold and silver as real money and currency as just that, currency.

Some project a monetary reset and debt jubilee that would price gold in today’s terms at between $16,000 and $32,000 per ounce. At that value militaries everywhere will make illegal mining unaffordable. The new high value will make better mining practices affordable. Gold will flow again and assume it’s historical function as a store of value used to balance trade imbalances between “giants", kings, nations, large corporations, etc. All giants will recognize that it is better to trade their best products for gold than to go through the trouble and environmental degradation of mining gold. Even if all mining stopped there would never be a shortage. Since gold is a store of value the amount that already exists is plenty for 10 thousand years and more. Only the nominal value of currency in terms of gold need adjust. A dollar can be 1/10000th of an ounce or 1/100000 of an ounce…it really doesn’t matter.

In the meanwhile, efforts like this are underway to monetize gold again which will help alleviate the problems you describe.

SGI Buddhist, Loves Irish and Latin American Literature, History buff, knows a great deal about Medicare

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store