Gold backed money helpSubmitted by guest420 on Wed, 01/28/2009 - 23:22
Hello everyone. I dont understand a gold back currency. How does it differ from our tree backed currency? Gold is not that rare there is enough of it to fill all these jewelry stores. I mean what makes gold valuable? The money people pay other people to mine it or what ever.
I dont see a differance in our tree backed currency we pay people to harvest the trees to make it. And really shouldnt paper be more valuable than gold? You can do much more with paper than gold. Really what can you do with goldthat makes it so valuable? Make some jewelry with it? I can wipe my bum with paper but i really couldnt do anything with gold if it wasnt for some reason valuable. Ever try wiping ur bum with gold?
Soooo i dont understand why gold is valuable. Seems it should be just as fiat as paper. Thanks every1 who trys to help me understand this. FLAME ON