[TommyJefferson]

$this->bbcode_second_pass_quote('PenultimateManStanding', 'w')hat makes gold "real money?"

[smallpoxgirl]

I'm with you PMS. What makes gold "money" is the same thing that does it for green pieces of paper with pictures of dead white guys wearing wigs. The answer is consensus.

As I said in another thread, it seems to me that the little green pieces of paper function far better as a medium of exchange than gold does. The problem with gold and silver is always that the rich end up hoarding them. This leads to them becoming excessively scarce and unavailable as an exchange medium(i.e. deflation). The supply of green pieces of paper can be expanded as necessary to offset the hoarding problem.

[TommyJefferson]

$this->bbcode_second_pass_quote('smallpoxgirl', 'T')he problem with gold and silver is always that the rich end up hoarding them. This leads to them becoming excessively scarce and unavailable as an exchange medium(i.e. deflation). The supply of green pieces of paper can be expanded as necessary to offset the hoarding problem.

[PenultimateManStanding]

$this->bbcode_second_pass_quote('TommyJefferson', '')$this->bbcode_second_pass_quote('smallpoxgirl', 'T')he problem with gold and silver is always that the rich end up hoarding them. This leads to them becoming excessively scarce and unavailable as an exchange medium(i.e. deflation). The supply of green pieces of paper can be expanded as necessary to offset the hoarding problem.

[TommyJefferson]

$this->bbcode_second_pass_quote('PenultimateManStanding', 'A')s for the world supply of gold being infinitely divisible, maybe you should clarify that a bit.

[mattduke]

SPG is concerned about the rich hoarding metal. She prefers they own the printing press instead.

[Narz]

Re : salt

$this->bbcode_second_pass_quote('PenultimateManStanding', 'B')ut it is also essential to life

[Dukat_Reloaded]

Rothbard makes a point relating to gold.

"Vital to this necessary reform is the return to a money which is a useful product produced by the free market itself. In every society, people on the market voluntarily arrive at one or two commodities which are the most useful to use as money. For thousands of years, gold has been selected by countless societies as that money. The only alternative to a market commodity-money is what we unfortunately have now: paper tickets issued by the government and called "money." Since the paper tickets – dollars, francs, pounds sterling, or what have you – are issued by the government, the government can issue any amount it arbitrarily chooses. Counterfeiting is built into the system, and hence so is inflation and eventual destruction of the currency."

In the history of markets, people all over the world have always used gold as the #1 form of money. There's a reason for that, gold just simply becomes the money of choice when people have the freedom to choose so, and it lasts the test of time. Any type of paper ticket system is corruptable and there's never been an exception. The choice by governments to use paper money instead of gold is their intent from the outset to print too much money and cause inflation. If they truely believed that they would not over issue, then I don't see the point of using paper money because there would be no advantages for the government to use paper, no reason to have ever gone off the gold standard.

[PenultimateManStanding]

$this->bbcode_second_pass_quote('Narz', 'R')e : salt

$this->bbcode_second_pass_quote('PenultimateManStanding', 'B')ut it is also essential to life

[Narz]

$this->bbcode_second_pass_quote('PenultimateManStanding', '')$this->bbcode_second_pass_quote('Narz', 'R')e : salt

$this->bbcode_second_pass_quote('PenultimateManStanding', 'B')ut it is also essential to life

$this->bbcode_second_pass_quote('joewp', 'Y')ou make sound like "politicizing" is a dirty word. I'd much rather have a system in which determining the money supply is an open process, with input from the public, even if politicians grandstand and incessantly babble on.

[copious.abundance]

$this->bbcode_second_pass_quote('joewp', 'U')m, please address your claim of money being "used up", thanks, I'm not sure what you're talking about with this response. You mean no national debt (which is impossible today) has nothing to do with it? To do with what? You're the one who claimed "anti-debt" teapartiers would stop fight a money supply increase.

[joewp]

$this->bbcode_second_pass_quote('copious.abundance', '')$this->bbcode_second_pass_quote('joewp', 'Y')ou make sound like "politicizing" is a dirty word. I'd much rather have a system in which determining the money supply is an open process, with input from the public, even if politicians grandstand and incessantly babble on.

[Rod_Cloutier]

Bitcoin volatility news:

http://www.youtube.com/watch?feature=pl ... 4BedQI#t=0

(Seemed relevant to this thread)

[joewp]

$this->bbcode_second_pass_quote('copious.abundance', '')$this->bbcode_second_pass_quote('joewp', 'U')m, please address your claim of money being "used up", thanks, I'm not sure what you're talking about with this response. You mean no national debt (which is impossible today) has nothing to do with it? To do with what? You're the one who claimed "anti-debt" teapartiers would stop fight a money supply increase.

[joewp]

$this->bbcode_second_pass_quote('Repent', 'B')itcoin volatility news:

http://www.youtube.com/watch?feature=pl ... 4BedQI#t=0

(Seemed relevant to this thread)

$this->bbcode_second_pass_quote('joewp', 'W')ell gee, what the hell do you think politicians are supposed to do other than extract concessions from the majority if they're in the minority? They're supposedly representing their constituents, aren't they? What would you expect them to do, go along and get voted out?

[joewp]

$this->bbcode_second_pass_quote('copious.abundance', '
')At this point you're agreeing with me your proposal would politicize the money supply, and that congress, given this power, would play political games with it.

[Revi]

Fiat currency is great until it doesn't work. I believe in it, but I hedge with a little silver just in case.

If it tanks I am back to what I paid for it.

Hopefully the economy holds up and we don't go into inflation.

If that happens the economy will be what holds me up.

If we have troubles, then it's there like a life preserver.

$this->bbcode_second_pass_quote('joewp', 'I') didn't think I ever disagreed. I just think it's much better than some shady characters with questionable motives managing the money supply, and mostly only helping their banker masters and screwing the working class.