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What are some notable scams in history that went unnoticed for so long? (lemmy.ml)

submitted 1 year ago by bady@lemmy.ml to c/asklemmy@lemmy.ml

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[–] AndreyAsimow@lemmy.world 4 points 1 year ago (3 children)

The US dollar with no backing value

[–] naught@sh.itjust.works 15 points 1 year ago (1 children)

Yeah? What should back the currency? What would have happened to the dollar if it was still pegged to gold? What is the difference between an artificially scarce natural resource and a currency backed by a superpower?

[–] scrubbles@poptalk.scrubbles.tech 19 points 1 year ago (1 children)

Like gold value has any meaning lol, humans are still just "ooo shiney"

[–] naught@sh.itjust.works 6 points 1 year ago

That's exactly my point. Gold shills sit around and wax on about how it's a cure-all and how the gold standard was better blah blah without understanding the basic reasons why it had to go.

[–] moobythegoldensock@geddit.social 7 points 1 year ago (1 children)

It’s backed by the government. Yes, if the government falls apart the dollar will be worthless, but if the government falls apart a lot more will happen than just the currency dying.

[–] RivenRise@lemmy.world 6 points 1 year ago (1 children)

That's my reasoning behind trusting banks with my money. If shit goes down to the point I can't get my money out of a bank then it won't have much value for long anyways and I have bigger issues.

[–] moobythegoldensock@geddit.social 4 points 1 year ago

Nowadays, yes. Back in the day a run on the bank could screw everyone.

[–] tungah@lemmy.world -5 points 1 year ago* (last edited 1 year ago)

The days are numbered on this one, probably.