Is Gold Really, "Money," In The 21st Century?Submitted by zooamerica on Fri, 06/20/2014 - 22:22
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.
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.