are y'all better off than you were 4 years ago ?

[hemet dennis]

It is called "Fiat Currency." It is only backed by the faith and trust people have in their government. Silver was taken out of US coinage in 1965. Lyndon Johnson was president then.

I still have some silver coins and I usually run across 2 or 3 a month of silver quarters.

 

[newfoundland]

You are quite correct rebelcowboysnb. In fact UK left the gold standard in 1931! I can't believe I have labouring under this misapprehension for so long! Oh well, it was a nice dream while it lasted.

 

[hemet dennis]

You are quite correct rebelcowboysnb. In fact UK left the gold standard in 1931! I can't believe I have labouring under this misapprehension for so long! Oh well, it was a nice dream while it lasted.

Money being tied to a gold standard is dumb and silly. All it does is put an artificial price on gold.

 

[rebelcowboysnb]

Quote:
No, I am pretty sure it is all about putting an artificial worth to a peace of paper... Gold already has a value by the fact that is has an actual use, a demand an a limited supply. Money has no value, use, demand an can be printed indefinitely. The value an demand for money has to be imposed on to it threw artificial means.

 

[hemet dennis]

No, I am pretty sure it is all about putting an artificial worth to a peace of paper... Gold already has a value by the fact that is has an actual use, a demand an a limited supply. Money has no value, use, demand an can be printed indefinitely. The value an demand for money has to be imposed on to it threw artificial means.

So to you what doesn't have value ? Besides paper money. And does a piece of paper that I say can be exchanged for gold have more value than a piece of paper that I say is money ? Isn't the value in my word ?

 

[rikithemonk]

Money backed by the value of the empire always fails because people are greedy. And I'm not talking about me or you. I mean the bankers that control the ratio of money amount = product or service. Every single fiat currency in history has gone bust. Even the United States. It may surprise you to know that this isn't the first money backed by the US empire. I believe this is the second or third. The first ones failed. It's all a matter of history if you care to look.

Money based on gold tends to last much longer. For example. You can take a post word war one German dollar to a pawn shop or coin dealer and its worth nothing. You can take a 1500 year old roman coin to the same place and get at the very least the value of its gold content. The amount of money you would get for the gold content is very close to the value of the amount of goods the coin would have purchased in Ancient Rome. In other words, the amount of wood or grain, or bricks that coin would have purchased for you in ancient times, you can still afford from the gold in modern times. Not true for our money. $6000 modern paper dollars in 1940 would buy you a new car. It takes three times that amount to buy a new car today. The paper money lost 1/3 it's value in under 70 years where the gold coin from a dead empire issued from a now extinct banking system, still has the same purchasing power 1500 years later.

Riki

 

[rebelcowboysnb]

Quote:
So to you what doesn't have value ?
Everything has some value. Money has about the same actual value as the junk mail. That is to say that if I had enough of it I could trade it is firewood.

And does a piece of paper that I say can be exchanged for gold have more value than a piece of paper that I say is money ? Yes. I know what gold is worth. If I trust that you will stand by the fact that you will trade that peace of paper for X amount of gold at any time, that paper holds about the same value as the gold. Other people of course have to trust the same thing though. Paper you have that you just call money with nothing backing it, has no real value though. I have Dade dollars. Worth about the same as a US$ here. The county does incentive to make people want them. Mostly cause it is fun. It has no real value. If I offered to buy an item from you in Ca an offered one of two things, a gold ladybug $ coin from Palou(spelling?) or a paper Dade Dollor, which would you be more interested in?

 

[hemet dennis]

Post WW 1 German bank notes do have value. As much as $200 dollars for a 50 mark note.

Isn't a 1940's car worth more then 3 times what it was worth new in 1940 ?

What is the value of gold ? A couple of weeks ago it was about $200 more an oz. then it is today. So all your money would be worth less today then 2 weeks ago ? Would the prices in the stores have to change every hour as the price of gold changed ?

All empires fall even the ones that use gold coins. Ask the Romans.

 

[hemet dennis]

So to you what doesn't have value ?
Everything has some value. Money has about the same actual value as the junk mail. That is to say that if I had enough of it I could trade it is firewood.

And does a piece of paper that I say can be exchanged for gold have more value than a piece of paper that I say is money ? Yes. I know what gold is worth. If I trust that you will stand by the fact that you will trade that peace of paper for X amount of gold at any time, that paper holds about the same value as the gold. Other people of course have to trust the same thing though. Paper you have that you just call money with nothing backing it, has no real value though. I have Dade dollars. Worth about the same as a US$ here. The county does incentive to make people want them. Mostly cause it is fun. It has no real value. If I offered to buy an item from you in Ca an offered one of two things, a gold ladybug $ coin from Palou(spelling?) or a paper Dade Dollor, which would you be more interested in?

Do you know what gold is worth ? Because today it is up about $30 an oz. so far.
Do you know what it will be worth next week or next month ?

 

[rebelcowboysnb]

Quote: You are trying to compare golds worth to how much money it will trade for. Its worth has nothing to do with money. Gold is not up to $30 an oz, more like money is down to $30 an oz.

An the total number is around $1700 an oz. $30 is less than a 2% change.


Silver is going for $32 an oz.

What really matter is how much gold does it take to trade for X amount of product. There is fluctuations but generally an oz of gold still buys around about the same products as it did in the 1960. A US$ will not do that.