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Dennis Hackethal commented on idea #4143.
#4143·Benjamin DaviesOP, 4 days agoMeasuring the stock market in fiat is more arbitrary than measuring it in gold.
A short video relating to that:
https://youtu.be/AGNvdN1Lw9A?si=b5vO7kx_pTRgEgrZ
Wiener says the dollar can go up or down in value (usually down; prices usually rise).
He suggests that, due to this volatility, measuring the value of something in dollars is like measuring the width of a physical object using a rubber band. He implies that this measurement is unreliable and arbitrary because you can ‘stretch’ it just like a rubber band.
He concludes that we should measure the value of something in ounces of gold instead.
Am I understanding Wiener correctly?