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InvisibleAlteredAgain
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To make gold the currency of the people
    #11337173 - 10/28/09 11:35 AM (7 years, 11 months ago)

With the dollar dwindling and the powers that be eager to push a global currency, what do you guys think about the people reclaiming their power by rejecting more and more the official government money and increasingly adopting the application or pure gold in day to day transactions within local communities?

Like melt your pure gold into 1 gram spheres or wafers which would be around 33 dollars now. We could use silver for smaller purchases under 33 dollars.

Who would be on that boat?


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Invisiblememes
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Re: To make gold the currency of the people [Re: AlteredAgain]
    #11337201 - 10/28/09 11:41 AM (7 years, 11 months ago)

Nobody with any sense.  Gold as a medium of exchange is no longer practical.


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OfflineMr.Al
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Re: To make gold the currency of the people [Re: memes]
    #11337213 - 10/28/09 11:43 AM (7 years, 11 months ago)

Quote:

meams said:
Nobody with any sense.  Gold as a medium of exchange is no longer practical.






Nobody...

Right.

That's why gold has been going through the roof.


Nobody's interested in PM's....


How is money that the government can't fuck with not practical?


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Invisiblememes
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Re: To make gold the currency of the people [Re: Mr.Al]
    #11337220 - 10/28/09 11:44 AM (7 years, 11 months ago)

I knew you'd be right behind me, Mr. Al.  I won't bring our perpetual argument to the Pub - it belongs at home in MM.


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Invisibleniteowl
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Re: To make gold the currency of the people [Re: memes]
    #11337222 - 10/28/09 11:44 AM (7 years, 11 months ago)

Quote:

meams said:
Nobody with any sense.  Gold as a medium of exchange is no longer practical.




Why?

Because the powers that be can't control it?


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Invisiblememes
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Re: To make gold the currency of the people [Re: Mr.Al]
    #11337225 - 10/28/09 11:45 AM (7 years, 11 months ago)

Quote:

Mr.Al said:
Quote:

meams said:
Nobody with any sense.  Gold as a medium of exchange is no longer practical.



Nobody...
Right.
That's why gold has been going through the roof.




Read what i said - dummy.  Do you honestly think all those people buying Gold right now are getting it so they can buy their groceries?  You said it yourself in a thread in MM - people who are buying are gold are doing so as a hedge against devaluation of their wealth - not as a practical means to exchange in daily trade.


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OfflineMr.Al
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Re: To make gold the currency of the people [Re: memes]
    #11337230 - 10/28/09 11:46 AM (7 years, 11 months ago)

Quote:

meams said:
I knew you'd be right behind me, Mr. Al.  I won't bring our perpetual argument to the Pub - it belongs at home in MM.





It belongs wherever it is found.


I grow weary of government cheerleaders.


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OfflineMr.Al
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Re: To make gold the currency of the people [Re: memes]
    #11337232 - 10/28/09 11:47 AM (7 years, 11 months ago)

Quote:

meams said:
Quote:

Mr.Al said:
Quote:

meams said:
Nobody with any sense.  Gold as a medium of exchange is no longer practical.



Nobody...
Right.
That's why gold has been going through the roof.




Read what i said - dummy.  Do you honestly think all those people buying Gold right now are getting it so they can buy their groceries?  You said it yourself in a thread in MM - people who are buying are gold are doing so as a hedge against devaluation of their wealth - not as a practical means to exchange in daily trade.






That's what things like silver and copper are for.



Five grams of silver.  I think that would be a useful everyday unit.


Edited by Mr.Al (10/28/09 11:50 AM)


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InvisibleAlteredAgain
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Re: To make gold the currency of the people [Re: memes]
    #11337242 - 10/28/09 11:49 AM (7 years, 11 months ago)

Quote:

meams said:
Nobody with any sense.  Gold as a medium of exchange is no longer practical.




And how? You can fucking melt it and change its form. How is that not practical?

If you're referring to non-practical as to our civilization so much based on paper money that it won't work, then I encourage you to think beyond the norm.

I would totally be on that boat. :smile:


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InvisibleAlteredAgain
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Re: To make gold the currency of the people [Re: AlteredAgain]
    #11337273 - 10/28/09 11:57 AM (7 years, 11 months ago)

Quote:

Mr.Al said:
That's what things like silver and copper are for.




I forgot about copper, yes. Denomination would not at all be problem with a fine metal currency. Equipped with a pouch and a purity testing kit, as payment acceptance becomes more widespread, this new currency of the people would be very viable IMO.


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InvisibleSilversoul
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Re: To make gold the currency of the people [Re: AlteredAgain]
    #11337303 - 10/28/09 12:03 PM (7 years, 11 months ago)

For one thing, there isn't enough gold in the world to use as money for today's population.  That's actually been true for several hundred years, which is why back when we had a "gold standard," it was really paper money ostensibly backed by gold.  But there was never really enough money to back it, which is why the banks used fractional reserve banking.  And the fact is that even when civilization used actual gold coins, the face value was never the same as its commodity value.  To work as money, it has to have a higher nominal value than what it costs to make, which is why paper money works so well.  Basically, all the arguments for gold as money are based on fetishism and superstition.


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InvisibleAlteredAgain
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Re: To make gold the currency of the people [Re: AlteredAgain]
    #11337305 - 10/28/09 12:04 PM (7 years, 11 months ago)

C'mon I know there's a lot of you out there who know what I'm getting at. I want viewpoints! :tripping:


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OfflineMr.Al
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Re: To make gold the currency of the people [Re: Silversoul]
    #11337318 - 10/28/09 12:07 PM (7 years, 11 months ago)

There are various different precious metals.


The nice thing about them is that they aren't inflationary as long as government doesn't control it.



I think people should use whatever they want as a medium of exchange.

This would obviously entail ending legal tender laws.



Yeah, paper money works so well it loses purchasing power!



Drugs would also serve as a useful medium of exchange in some communities...


[Yesterday L.S.D. traded at one quarter ounce silver for 100 micrograms....:crazy2:]


Edited by Mr.Al (10/28/09 12:10 PM)


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InvisibleAlteredAgain
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Re: To make gold the currency of the people [Re: Silversoul]
    #11337323 - 10/28/09 12:09 PM (7 years, 11 months ago)

Quote:

Silversoul said:
For one thing, there isn't enough gold in the world to use as money for today's population.  That's actually been true for several hundred years, which is why back when we had a "gold standard," it was really paper money ostensibly backed by gold.  But there was never really enough money to back it, which is why the banks used fractional reserve banking.  And the fact is that even when civilization used actual gold coins, the face value was never the same as its commodity value.  To work as money, it has to have a higher nominal value than what it costs to make, which is why paper money works so well.  Basically, all the arguments for gold as money are based on fetishism and superstition.




Hmm you have some points there. Though don't be quick to label inspiration with superstition. I'm not spouting facts, I'm sharing ideas. :peace:

It may be true (though you have showed no proof) that there may not be enough gold, silver, and copper to replace the entire wealth in the world, but on the other hand fine metals would not become a global standard overnight anyway.

It would begin as a grass roots effort, personal trades, and a form of currency for sustainable communities who wish to be independent from the state. In this case gold being used as a peoples' currency is still very doable.

Paper money backed by gold can be used to solve the issue you mentioned, when if gets to the point where masses of people accept it for day to day use. But certainly not printed by the federal reserve!


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OfflineTri High
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Re: To make gold the currency of the people [Re: AlteredAgain]
    #11337342 - 10/28/09 12:13 PM (7 years, 11 months ago)

Commodity backed currency is the way to go.

Whether you're panning the river for gold, or mining it.

Or you've got bee hives, and have honey/bee hives to exchange.

To seeds/fruit/veggies, etc...

Horseshoes, knifes, bullets.

Commodities are, in my opinion, the only really productive way to ensure you get what you give.


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OfflineMr.Al
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Re: To make gold the currency of the people [Re: AlteredAgain]
    #11337343 - 10/28/09 12:14 PM (7 years, 11 months ago)

Looking at Silversoul's "argument"...


What do we suppose the actual buying power of an oz. gold would be if the paper money became worthless???


Clearly investing in precious metals is foolish...:rofl:


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InvisibleAlteredAgain
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Re: To make gold the currency of the people [Re: Mr.Al]
    #11337359 - 10/28/09 12:16 PM (7 years, 11 months ago)

Quote:

Mr.Al said:
Drugs would also serve as a useful medium of exchange in some communities...


[Yesterday L.S.D. traded at one quarter ounce silver for 100 micrograms....:crazy2:]




I was thinking about that too. Suppose one day it happens that government currency becomes entirely electronic.. What if you need an RFID chip to buy your groceries one day?

How would you buy your controlled substances? With an RFID? :lol: No, with a currency independent from the state that made those substances illegal. :cool:


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InvisibleSilversoul
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Re: To make gold the currency of the people [Re: AlteredAgain]
    #11337372 - 10/28/09 12:19 PM (7 years, 11 months ago)

Quote:

AlteredAgain said:
Quote:

Silversoul said:
For one thing, there isn't enough gold in the world to use as money for today's population.  That's actually been true for several hundred years, which is why back when we had a "gold standard," it was really paper money ostensibly backed by gold.  But there was never really enough money to back it, which is why the banks used fractional reserve banking.  And the fact is that even when civilization used actual gold coins, the face value was never the same as its commodity value.  To work as money, it has to have a higher nominal value than what it costs to make, which is why paper money works so well.  Basically, all the arguments for gold as money are based on fetishism and superstition.




Hmm you have some points there. Though don't be quick to label inspiration with superstition. I'm not spouting facts, I'm sharing ideas. :peace:

It may be true (though you have showed no proof) that there may not be enough gold, silver, and copper to replace the entire wealth in the world, but on the other hand fine metals would not become a global standard overnight anyway.

It would begin as a grass roots effort, personal trades, and a form of currency for sustainable communities who wish to be independent from the state. In this case gold being used as a peoples' currency is still very doable.

Paper money backed by gold can be used to solve the issue you mentioned, when if gets to the point where masses of people accept it for day to day use. But certainly not printed by the federal reserve!



The point is that gold is completely unnecessary for currency.  If you're worried about the future of the dollar, you can just start an alternative currency like they did in Ithica, NY.  Backing it with gold is just making it unnecessarily complicated.


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OfflineMr.Al
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Re: To make gold the currency of the people [Re: Tri High]
    #11337376 - 10/28/09 12:19 PM (7 years, 11 months ago)

Quote:

Tri High said:
Commodity backed currency is the way to go.

Whether you're panning the river for gold, or mining it.

Or you've got bee hives, and have honey/bee hives to exchange.

To seeds/fruit/veggies, etc...

Horseshoes, knifes, bullets.

Commodities are, in my opinion, the only really productive way to ensure you get what you give.






Exactly.

When the government fiat becomes worthless people improvise and utilize various means of exchange.


The argument against gold makes no sense when you consider this.

"There's not enough gold!"  That just means that gold will buy a whole lot when no one trusts government money.

People will come up with solutions for their medium of exchange problem.



TriHigh brings up a very important point in referencing commodities as exchange, this would motivate people to produce things which have recognizable value!  There would be an abundance of useful commodities produced in a real free market!



The basis of prosperity is production of real goods and services.  Printing press money does not further that cause (see Austrian Business Cycle Theory as to why).


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InvisibleAlteredAgain
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Re: To make gold the currency of the people [Re: Tri High]
    #11337384 - 10/28/09 12:21 PM (7 years, 11 months ago)

Quote:

Tri High said:
Commodity backed currency is the way to go.

Whether you're panning the river for gold, or mining it.

Or you've got bee hives, and have honey/bee hives to exchange.

To seeds/fruit/veggies, etc...

Horseshoes, knifes, bullets.

Commodities are, in my opinion, the only really productive way to ensure you get what you give.




I agree with this. You've actually touched a deeper point than my thread title. :yesnod:

What gold provides is a standard to measure value. I look at it like a ruler and gold being the measurement.

I could say this horse is valuable in terms of its age, great health, aesthetic beauty. And so I ask an ounce of gold.

By stating oz of gold, I am communicating its value. You use the ruler to measure its value. You say aha that's how much it is.

It's a standard.


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