Comment: In their mind (I think)

(See in situ)


In their mind (I think)

a. they envision the actual exchange of gold for goods and don't realize that electronic transfers, or paper gold certificates could be used.

I tell them that I can go to mexico and use my debit card (which only has FRN's) and with one swipe can exchange it for pesos and pay a merchant. A PM backed card could work the same way, and I think schiff has one (although it's illegal for US citizens to have).

b. they thing there actually isn't enough Gold. doesn't really matter why. I think because they are told to think that and possibly back it up by increased population and a more "complicated" economy.

I just try to explain that the ONLY requirement for Gold to be a currency is that there are enough units to facilitate the needs for money in circulation. There is no evidence that there isn't enough gold for that.

Mostly though I don't say that gold is the answer. I just say that gold should be allowed to be used as a currency, on the same playing field as FRN, if people so desire.