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Re: Doma, just the opposite

By: faul in ALEA | Recommend this post (0)
Sun, 03 Jun 12 9:09 PM | 63 view(s)
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Msg. 08286 of 54959
(This msg. is a reply to 08282 by DigSpace)

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http://www.youtube.com/watch?v=G3TltMNbgGQ

"I was arguing just the opposite. Gold is money. That was my point."

Watch the video from 4mins30sec...."Do you think Gold is Money?"

BB Chairman of the Fed.............NO!

Gold is not money it is a barbaric tradition of a relic
held by cavemen or jews sewn into their cloths to
escape the Nazi's................why is it vilified,why isn't
it money.........what makes a debt note money....the
force of your government...that's what FIAT currency is.

Doma.


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The above is a reply to the following message:
Doma, just the opposite
By: DigSpace
in ALEA
Sun, 03 Jun 12 8:19 PM
Msg. 08282 of 54959

I was not arguing gold was barbaric and not even money, I was arguing just the opposite. Gold is money. That was my point.

There are those who subscribe to monetary systems, sea shells, printed currency, .... or gold. Gold is more finite, and so in a panic more durable. But it in the end it is still money. I can't eat it, it provides no insulation, it is not fuel.

I simply was arguing that I am not so inclined to be a tweener. Should the poop fly I would likely go pure barter and not stop at the half-way house of gold.

Yes, historically it maintains value better than printed currency when the poop flies.

On that I really don't care so much.

Again, I would be more interested in steel, wood, seeds, and a water source.

If somebody is more inclined to be barbaric here it would be me, not those who hold onto reserve monetary systems, even those minted from gold.

I do not dispute in any way your argument that a monetary systems such as that we enjoy could collapse, it is just that I am more binary on that than you, I find little comfort in bricks of gold.

So in your post-apocalyptic vision, I am much more inclined to gravitate towards things with intrinsic value (a good shovel), and towards people with valuable skills ... a wheel and wainwright e.g. Gold, to me, is neither of these. It is still only by agreement that it serves as a reservoir for value.


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