A proper definition of sound or hard money is admittedly nebulous. A commonly accepted definition is this: a currency that serves as a reliable and stable store of value. By extension, sound money should preserve its purchasing power. If $1 gets me a milkshake today, it should get me a milkshake (or more) tomorrow, ad infinitum.
- Sorry, Ether: Sound Money Doesn’t Exist and Neither Does 'Ultra' Sound Money
Written by Bankerage Published on October 2, 2022