Beeker said:
I disagree, the ability to change the value of the dollar is the primary reason none of our recessions have turned into depressions. Their is no reason to tie our money to a random commodity like gold or silver.
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I disagree, the ability to change the value of the dollar is the primary reason none of our recessions have turned into depressions. Their is no reason to tie our money to a random commodity like gold or silver.
Beeker said:
Really? Are you telling me that the value of gold and silver dont vary? There is no inherent reason to use gold and silver over any other reasonably constant priced limited quantity goods. We could use sand, water, air, iron, copper, etc. It makes no real difference.
That's overlooking something though. Scarcity has little to do with it. I have a one of a kind set of Snoopy bookends but it's only worth what someone is willing to give me for it. Same as gold, same as a dollar. They are not inherently valuable. They are only worth what someone is willing to do for them. So, if someone is willing to say, "You want fries with that?" for $5.15 an hour, the dollar is worth that. If no one was willing to do that for Snoopy bookends or an ounce of gold, then those would not be worth it. Rarity can affect the value people place on something, but all told, it is people that determine the value of anything. Dollars are rare enough for people to be willing to work for them... after all, money doesn't grow on trees. 
Beeker said:
Do a little bit of digging. Diamonds are no where near as scarce as the Debeers corporation would have you believe. the value of the diamonds is based purely on marketing. Similarly, gold and silver are metals that have little productive value. They're only valuable because they're shiny and make pretty things. They hold no more intrinsic value than a paper dollar really.
If anybody really wants to know the answers to these questions, I already gave the links in post #11. This is one of my favorite subjects (for what reason, God only knows). I can give you all the places to find the real information you want. Not the crap you hear on the "news." The value of gold going down... Right. Maybe the stocks but never the coin in your pocket. The value of the metal in your hand only goes up. The only way it would go down is if the government and that privately owned business called "The Federal Reserve System" (which is not Federal, there is no reserve, and it is not part of the government system, it is a private business, a governmentally endorsed monopoly, created to make money, like any other person who starts a business) created a deflationary exchange, in which they would, overnight, without letting anybody know, start a completely new currency stating that your bank account that has about $1000 in it is now worth $100 of the "new dollars." Read up on it. I gave you the resources.
"Similarly, gold and silver are metals that have little productive value."
Not to disagree with all that is being said but gold does have a tremendous productive value. Mostly in the space industry and the automotive and computer trades as well. Plus silver and gold in their pure forms are generally very hypoallergenic.
And back to the debate.
Not to disagree with all that is being said but gold does have a tremendous productive value. Mostly in the space industry and the automotive and computer trades as well. Plus silver and gold in their pure forms are generally very hypoallergenic.
And back to the debate.
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