https://youtubetranscript.com/?v=kj7MXuHx9gc
Money is a device for moving value across time and space. So gold is excellent at holding value across time, but metals are pretty poor, especially for a globalizing society at expressing value across space. They’re very heavy and difficult to move. They’re expensive to move, expensive to secure, et cetera, et cetera. So this is where paper currency was introduced. By abstracting gold into a paper currency, we could now increase its transactability across space. So long as it was redeemable one for one, one unit of currency for one ounce of gold, for instance, then it maintained its ability to express value across time as well. So we’re basically augmenting this free market selected technology to make it more transactable across space and time.