I think that you’re kind of getting at my thinking: the fact the silver has other uses might be a psychological stabilizer, to prevent or slow the self-reinforcing mutual lack of confidence.
This is (I think) what I’m trying to tease apart—that the economy might benefit from this comfort people feel, but in a more “rational” evaluation, the silver backing isn’t necessary.
I think that you’re kind of getting at my thinking: the fact the silver has other uses might be a psychological stabilizer, to prevent or slow the self-reinforcing mutual lack of confidence.
This is (I think) what I’m trying to tease apart—that the economy might benefit from this comfort people feel, but in a more “rational” evaluation, the silver backing isn’t necessary.