Huzzah! Minimum Wage Increase Shot Down in Senate
- Thread starter Harlock
- Start date
Launcher said:
How about it? Generally people arent going to decide one day that 'oh, this money is worthless'.
You would probably need to see some significant shakeup to the money supply, maybe a huge counterfitting ring or something for people to lose all trust in their money.
You could look at how dollars are treated internationally. There are no laws that force anyone outside of the US to accept dollars, yet they are eagerly accepted by nearly everyone.
Last edited:
I think where I am having problems with this is how intrinsic is defined. There is nothing inherently more valuable about gold than there is dollars at this point. When it was first done, I agree, Legal Tender laws were used to twist the arms. Is that because gold is intrinsically more valuable than the dollar? No, again, nothing has intrinsic value other than those things necessary to survival. The fact that a dollar can buy a certain amount of gold on the world market proves that one is just as valuable as the other. I could use an ounce of gold to buy that 125 gallon tank or a few $100 bills. Intrinsic means related to the essential nature of something. Gold is not intrinsically valuable. Again, it is only worth what someone is willing to give you for it in trade. Here, let's set up another meeting, but let's manipulate the circumstances, okay?Launcher said:
You can have all the gold, silver, platinum and titanium in the world plus the sole ability to mine it, manipulate it and shape it. I'll take all of the food and ability to produce it. Now, we eradicate modern life as we know it; I'll be kind and let you pick the catastrophe of your choice.
So, most of the population of Earth is gone. You have all that gold which you claim is inherently valuable. I have more cans of food than you can shake a stick at. What is your gold worth now? $440.50? Maybe. But when you get hungry it's only worth what I am willing to trade you for it. Are you seeing the point? Market value is just that. In order for there to be a value, there has to be a market for it, therefore it is not intrinsically valuable at all.
I already answered that question. I know market values. I would trade you a silver dollar for the appropriate market value in paper dollars. And, as I said before, this doesn not make silver inherently more valuable. We're going in circles here and you are simply refusing to admit that market value determines the value of precious metals and that they are not in and of themselves valuable. Value is placed on them by the market.Launcher said:
Launcher said:
what discrepancy? Gold and silver both vary in value depending on supply and demand, when a large gold mine is uncovered, the value of gold will drop. Why would you want to tie your economic system to the value of a certain good? There is no inherent logic for it.
Why is there a discrepancy between certain paper star notes of the one dollar denomination and certain silver dollars? Really, you're not arguing a point here. Your basis seems to be to simply ask questions and not answer them, so I'll leave you to it.Launcher said:
