Saylor tried to use history to support his claim because there has also been lending on “sound money” at interest in the past. 

But gold was never fixed in supply, the stockpile always grew so getting away with the duration mismatch to pay a yield is easier in that system, even though it inevitably led to rehypothecation and then they only got away with that because self-custody at scale is impossible in gold without becoming a target for violent appropriation, and modern economies required greater velocity.

Interesting that Allen and Saif have both studied Islamic banking and reached their conclusion that equity will be the path forward whilst Saylor apparently hasn’t so couldn’t grok this point.