-3 votes

Is Gold Really, "Money," In The 21st Century?

Time for a political selfie check.

I'll never forget when Ron Paul asked Ben Bernanke if he thought gold was money.

"No," he replied.


http://youtu.be/2LCMdYp2tT8

I thought helicopter Ben was nuts.

So I recently asked myself a simple question.

When's the last time I purchased a product with gold?

If gold really is money, when's the last time I used it?

I never used it...I'm 100% guilty.

How can I be an advocate for something I have no actual experience with?

I honestly think more people eat liver and onions than people that use gold as money.

My conscience with the devil on my left shoulder, and an angel on the right keeps poking me, one with a golden spear and the other with nothing but a featherless wind of air.

Very few people use physical gold as actual money today.

If gold is money, then why don't people use it?

Why don't you or I use it?

If gold is good, why don't people use it?

I think the answer is quite simple.

There's not enough of gold to make the world go 'round.

If the Dollar was tied to gold, (or any other limited resource) total economic production would be directly limited to a scarce precious metal, and that is the main problem with gold - it is extremely limited, and would extremely limit economic productivity.

With 100 million people on the planet as the Georgia Guidestones say, fine, gold could work. But soon to be 7 billion?

No way possible.

"Money makes the world go 'round."

How many transactions on the NYSE or Nikkei are conducted via gold transfer?

How many online business transactions are carried out on a routine daily basis with physical gold?

Is gold money?

I don't think it is anymore. Gold is literally antiquated.

Gold is old, and extremely limited.

Gold doesn't matter anymore and if it did, people would be using it.

Is Bitcoin more popular than gold?

Yes, and there you have it...a rookie digital currency backed by nothing is more popular than a rare metal.

The United States Dollar is the world's first Digital Currency.

The new DC, or the old Au?

No other currency in world history has ever crossed the gold barrier between the physical and non-physical realm of what money is today.

That is a good thing, because humans were designed to build and create with an unlimited potential.

The Dollar can now go to infinity, and I have become its advocate because it is a currency product that best reflects and supports life itself.

No limit.



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It doesn't have to be gold

It doesn't have to be gold and it doesn't have to be one single thing. As long as it is durable and is something which the politicians or counterfeiters cannot make more of whenever they wish to do so.

Without gold backing the USD is just paper & ink.

...

It's kind of hard...

to use gold as money when it's illegal to do so. There are plenty of small mom and pop shops out there that'll trade gold for services, but the big stores won't take it. That's not their fault though. The big stores are the most vulnerable to government action, so of course they won't do it.

Cyril's picture

On stores of value (note the plural)

Well, it took me a while to understand that the PTB (since ancient times) have tried to brainwash us away from the simplest truths about money:

Gold is real money because it can also serve as a store of value, and not just as a commodity to make nice things to wear around necks and wrists.

A car is also a store of value, somehow. Land and estate also, obviously, etc. If it is a classic car, it is pretty stable, but still requires energy to spend in maintenance so that it doesn't degrade and keep appreciating over time.

A common car is a poor store of value depreciating fast, and so are cheap laptops, too.

Gold is very stable, both physically (physics), requiring no maintenance, and universal recognition of its scarcity, utility, divisibility, portability, ... So you only need a safe place to store without much concern about temperature, humidity, pression, etc.

Arts is also a store of value, but fragile, not divisible, needing expertise, etc.

The worst, and O the irony, today ruling thanks to people ignorance and elite corruption is fiat money :

totally worthless eventually, when the music stops (SHTF).

You may or may not be a believer, but if you are, it isn't far fetched to blame fiat money on the works of the Devil himself.

Cf. Proverbs 11.

'HTH,

Peace.

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Art actually appreciates more

Art actually appreciates more than the stock market often. It's why the rich hold a lot of good art. I have alos noticed looking around that if yuo can find nice paintings in the $350 range even, that they go up in value.

If you have a few thousand bucks, but some art instead and make your house look awesome. http://tinyurl.com/qjgckun

Plents of gold and SILVER to

Plenty of gold and SILVER to go around. In the 1800's the banks hoarded silver and shrank the money supply on purpose to try to prove the "gold" standard doesn't work. Hence the "Cross of Gold" speech to free up silver.

Go order yourself $5000 worth of silver coins and tell your neighbors to do the same. Enough for every day commerce. Inflation proof.

The Swiss Constitution

The Swiss Constitution mandated 40% of all Swiss Francs MUST be backed by gold. The in the 1980's there was a referendum with many things and the Swiss were swindled. But now probably 15% - 20% of Swiss Francs are backed by GOLD.

Swiss inflation is half of the rest of the world even now and for 30 years.

So, are you telling me Swiss Francs aren't money?

Here's how many US dollars a Swiss Franc buys: http://finance.yahoo.com/echarts?s=FXF+Interactive#symbol=FX...

Strongest Currency in the WORLD.