Explain SMBC — the wiki for Saturday Morning Breakfast Cereal

Gold

2021-07-20 View on smbc-comics.com → 1 revision
Gold
Votey panel for Gold
This explanation is incomplete or may contain errors. It was generated by AI and has not yet been reviewed by a human editor.

Explanation

This comic reimagines the classic leprechaun-with-a-pot-of-gold myth through the lens of modern monetary policy and cryptocurrency.

A man finds a leprechaun at the end of a rainbow and demands the pot of gold. The leprechaun pushes back: he explains that gold is under "artificial scarcity" -- the leprechauns are maintaining its value by keeping it locked away, much like how central banks manage gold reserves.

The leprechaun then explains that the gold standard was abandoned in the late 20th century, making the pot of gold less meaningful as a monetary instrument. He offers to let the man have "a wee coin" instead, hinting at cryptocurrency.

The conversation then takes a turn into modern finance: the leprechaun mentions cryptocurrency and asks if the man has heard of it. The man is uninterested. The leprechaun pivots again, asking if the man wants "me gold" -- but now nobody wants gold either. The final panel reveals that the leprechaun is essentially trying to find someone to take his increasingly worthless assets, and asks if the man has "any funding by any chance."

The comic satirizes how the mythology of treasure and wealth has been completely transformed by modern economics. The pot of gold at the end of the rainbow -- once the ultimate symbol of found wealth -- is now just another illiquid asset that nobody wants. The leprechaun has gone from a magical guardian of treasure to essentially a startup founder desperately pitching to potential investors. It is a commentary on how even fairy-tale wealth fantasies cannot survive contact with the realities of fiat currency, the death of the gold standard, and the crypto hype cycle.

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