>>279749347
I think it's a money supply issue. A lower valuation of Silver Monme against Gold Ryo could effectively 'decrease' the money supply by devaluing one part of the currency in circulation. Or to put it another way, (relatively) overvalued silver encourages people to save it, and spend gold instead. But that means there is overall more money (by value if not weight) in circulation, which partially has the same effect as an increased money supply. But because they are trading a physically limited quantity two metals, there can be price inflation without a corresponding rise in the availability of currency.