|
Post by sigurdur on Jul 10, 2016 15:56:28 GMT
Actually, tying the Dollar to a piece of gold is foolish.
A dollar is a medium of exchange, just as gold used to be. We set the price of dollars every time we use one. Or any other currency for that matter.
The price of gold is based on a currency. How many dollars etc you are willing to exchange for an ounce of gold.
Gold is a worldwide commodity.
The currency is a medium of exchange that replaces the barter system.
|
|
|
Post by sigurdur on Jul 12, 2016 16:01:08 GMT
How do we adjust for the value of different currency? That is done on the currency exchanges today. Is it perfect? No, but it allows one to travel to different countries and have a value established for trade. An item that gold supporters forget, is that gold had a different value depending on where you were. With a central currency, the value remains the same throughout a country. If you were starving, an ounce of gold would quickly be bartered for a meal. IF you were full, that ounce of gold remained in your pocket or bag. Same applies to currency. Gold/silver were considered a medium of exchange. Replaced by paper today.
|
|
|
Post by sigurdur on Jul 12, 2016 16:50:51 GMT
Gold is mined, so a fungible commodity. It has been replaced as a medium of exchange by paper.
In some manufacturing, gold is not replaceable as its metal properties demand it for its performance.
|
|
|
Post by sigurdur on Jul 14, 2016 3:44:41 GMT
One can make paper or gold.
|
|
|
Post by sigurdur on Jul 14, 2016 17:40:57 GMT
Make gold? I think we can make more paper in one day than we can gold. Really depends on the price of gold. When it was $2,000+ an ounce, it was amazing how many short tonnes were mined every day.
|
|
|
Post by sigurdur on Jul 24, 2016 15:19:09 GMT
Today's fiscal year deficit.
7/21/16
$1.249950 Trillion
|
|
|
Post by sigurdur on Jul 24, 2016 17:00:02 GMT
I agree.
|
|
|
Post by sigurdur on Jul 30, 2016 20:22:51 GMT
|
|
|
Post by sigurdur on Aug 8, 2016 17:22:17 GMT
Yep, a HUGE mess.
|
|
|
Post by sigurdur on Aug 25, 2016 1:51:33 GMT
It really is the pits!!!! NO one wants to be held accountable.
|
|
|
Post by sigurdur on Aug 25, 2016 13:10:18 GMT
|
|
|
Post by sigurdur on Aug 25, 2016 15:40:04 GMT
When you are in a hole you don't keep digging to get out
|
|
|
Post by sigurdur on Aug 28, 2016 18:27:38 GMT
IF the USA could do that, why hasn't it DONE so?
|
|
|
Post by sigurdur on Aug 28, 2016 18:29:16 GMT
Between September 10th and 15th.
|
|
|
Post by sigurdur on Aug 30, 2016 0:30:17 GMT
|
|