Why didn't Bilbo inform him that his cash technically had zero value?

Why didn't Bilbo inform him that his cash technically had zero value?

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smaug just wanted to stop inflation

Because if that was actually true Bilbo wouldn't be there to steal shit and Smaug would think he was a retard

>Oh wise and majestic Smaug, I implore you as a Chartered Accountant to liquidate 30% of your luxury jewels and re-invest them in capital producing businesses. Inflation is slowly eroding the value of your majesties gold and precious stones, you would be wise to speak to a merchant elf about diversifying your current holdings, perhaps establishing a joint venture with the mining orcs who mine themselves from goo or someshit.

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It has zero value for Smaug. If you have a vast amount of coins just sitting there and never being spent, then you actually have a vast amount of nothing.

Guess he just has a gold fetish.

Wrong you have a vast amount of coins.

This

A coin that is never spent is not a coin, it's just a worthless round piece of gold.

Yeah and dragons like gold.

He was obviously creating inflated value by restricting supply similar to the DeBeers diamond cartel